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Jamie Nam Carlos Rosas-Fuentes Lisa Suthers Ryan Truong Yevgeniy Vinogradov

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Ethnic Make-up European69% Maori14.6% Asian9.2% Pacific Islander6.9% Religion None33% Anglican24% Presbyterian18% Roman Catholic15% Methodist5% Protestant3% Baptist2% Languages English Maori NZ Sign Language Class Structure Egalitarian All people are equal and deserve equal rights and opportunities Nothing formal Wealth and status considered unimportant Population 3.9 million Expected to grow to 4.6 million within 44 years Auckland is the largest city of one million people (1/3 of pop.) live in North Island; most of the Maori live here Main Cities Auckland, Wellington, Christchurch, and Hamilton Sizeable rural population, although urban living is wholeheartedly embraced

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Informally known as Kiwis National Sport is Rugby Love of water and outdoors 15% of families own their own boat Backyard Inventors Hamilton jet boat, bungy jump, tranquilizer guns, electric fences, etc. Mateship is prized social value Loyalty to your friends and comrades Core part of New Zealand culture Recognized as an official language in 1987 Bilingualism is encouraged Many places have both an English and a Maori name Great value on hospitality Will often break into song Encourage visitors to sing along with songs from their country MaoriKiwi

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Respect people who are honest, direct, and have a sense of humor Trusting until given a reason not to be Business dealings may be difficult to repair or completely stop Reserved around strangers First names; no titles Quick to offer assistance Casual, but neat attire Business attire is conservative Restaurantsno dress code, except for business

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Appointments are necessary Schedule one week or more in advance Telephone, fax, or email December/January = summer vacation Be punctual If late, you look unreliable or that you feel your time is more important than theirs Relaxed atmosphere Eye contact Personal space Overselling = Untrustworthy Be direct and brief Emotions and feelings are unimportant Want value for their money Negotiations Time consuming Demonstrating instead of talking No haggling; only give realistic figures

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Capital: Wellington Government: Parliamentary Democracy and a Commonwealth Realm Independence from the UK in 1907 Based on British model Single House of Parliament Governments run their term and often re-elected There are 7 parliamentary parties: Green, Labour, Maori, National, New Zealand First, Act, and United Future

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Strong democratic engagement 75-80% voter turn-out in general elections Monarchy is hereditary Governor General appointed by monarch following legislative elections Leader of majority party appointed Prime Minister by Governor General Deputy Prime Minister appointed by Governor General

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Common Law Statute Law Created by Parliament Three Branches of Government Legislative, Executive, & Judiciary

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Parliament Law Makers Statutes Also includes: Members of Parliament House of Representatives Selected Committees

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Public elects 3 year terms Policy Makers Enforce and Administer Acts Appointed Interprets and applies law Decides which laws are administered

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Basic overseas business requirement Starting a business takes (on Average) One day One procedure Overseas Investment Acts/Regulation Lowest subsidies in OECD (Organization for Economic for Co-Operation & Development)

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Government Corruption 1 st Transparency International in Corruption Perceptions Index Copyrights, Patents, & Trademark Private property rights are strongly protected Fair Trading Act Consumer Guarantees Act Contracts Formal Business Settling disputes Disputes court Arbitration

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According to the New Zealand Treasury: The New Zealand economy is expected to record strong growth in the upcoming quarter Strong demand in early 2015 Strong growth in employment

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Current growth rate 1% Annual Growth rate 3.2% GDP per capita $30,493 Expenditure measure of GDP up 1.3%

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New Zealand has an absolute advantage when it comes to dairy farming First export was in 1882 Co-operative dairy company structure

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Inflation target implemented in 2002 Current CPI inflation at 1.5%

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National currency is New Zealand Dollar (NZD) : highest coin denomination is $2 highest banknote denomination is $100 Non-official currency name is kiwi dollar New Zealand Dollar regularly appear in the lists of the most tradable currencies the world. NZD was pegged to US Dollar until 1980 th but now is not backed by anything

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Heavily dependent on international trade. About 25% of products imported to another countries. Main export by industry: agriculture, horticulture, mining, fishing and forestry Main export destinations: Australia 21.1%, China 15%, the US 9.2%, Japan 7% Main import by industry: Clothing, Electronics and Cars Trade with the United States totaled 4.3 billion US Dollars (2014) Heads towards open economy with few barriers for foreign importers and pursues trade agreements for economic growth 9 agreements in force 10 agreements under negotiation Cooperates with the US through the WTO and regionally through APEC agreements

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Exchange rate of New Zealand Dollar to American Dollar as of 3/15/15: 1 US Dollar = 1.36 New Zealand Dollar Similar to the United States, New Zealand tax payers and businesses pay taxes on their net income and file tax returns. Domestic Companies pay 28% tax on their earnings Duty Rates for Imports are 0-15% and calculated exclusively on the value of the imported goods Other Charges for import: sales tax (GST) Import Entry Transaction Fee Inward Cargo Transaction Fee excise duty on some products.

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http://www.kwintessential.co.uk/resources/global-etiquette/new- zealand.htmlhttp://www.newzealand.com/us/feature/new-zealand-people/ http://www.history-nz.org/today.html www.parliament.nz/en-nz/mpp/parties https://www.cia.gov/library/publications/the-world-factbook/geos/nz.html https://www.newzealandnow.govt.nz/investing-in-nz/stability-security http://www.heritage.org/index/country/newzealand#regulatory-efficiency http://www.justice.govt.nz/publications/global-publications/n/the-new-zealand-legal-system http://www.bellgully.co.nz/resources/pdfs/Doing-Business-in-New-Zealand-February-2012.pdf http://www.oecd.org/unitedstates/ http://www.treasury.govt.nz/economy/mei/archive/pdfs/nzecp-charts-feb15.pdf http://www.tradingeconomics.com/new-zealand/gdp-growth http://www.heritage.org/index/country/newzealand http://www.tradingeconomics.com/new-zealand/indicators http://www.dcanz.com/about-nz-dairy-industry http://www.rbnz.govt.nz/statistics/key_graphs/inflation/ www.rbnz.govt.nz/notes_and_coins/notes www.mfat.govt.nz/Trade-and-Economic-Relations/2-Trade-Relationships-and-Agreements/index.php http://www.mfat.govt.nz/Countries/North-America/United-States.php#us www.cia.gov/library/publications/the-world-factbook/geos/nz.html www.ird.govt.nz/business-income-tax/paying-tax/tax-rates/bit-taxrates-companytax.html www.nzdotstat.stats.govt.nz/wbos/Index.aspx?DataSetCode=TABLECODE7301