The Bank of China (NZ) and AgriFoodNZ has announced that they have signed a Memorandum of Understanding to help New Zealand food and beverage companies seeking to gain access to investment capital and expertise in marketing and distributing product and services in China.
AgriFoodNZ (Food and Agricultural Trading New Zealand Ltd) was recently formed to facilitate investment and enhance the marketing and distribution capability of New Zealand food and beverage products.
“We are establishing an investment fund for New Zealand’s small to medium enterprises (SMEs) to build capacity in the rapidly growing Chinese market,” said AgriFoodNZ chairman, Peter Goodfellow.
“We have existing and successful channels into the Chinese consumer market for SMEs with established brands.
“Our aim is to take a minority position in SMEs, working alongside existing business owners to enable them to achieve their aims and objectives in the China market. We focus on added-value opportunities, helping SMEs to grow their capacity and prepare to launch or expand in China. The investors in our fund have established successful marketing and distribution channels in China both online and offline.”
The CEO of Bank of China in New Zealand, David Wang believes that AgriFoodNZ is an ideal vehicle for capturing changing trends in consumer tastes and an increasing expectation of quality goods, especially in packaged and fresh foods due to quicker delivery times and advanced logistics.
“The potential for New Zealand businesses to participate in China’s rapidly shifting market represents a significant opportunity,” said Wang.