[8 August/Radio NZ]

The Government is confident the U.S’s stance on firms doing business with Iran would not apply to New Zealand. President Trump re-imposed sanctions against Iran and suggested other nations should follow his lead. He added those who didn’t would not be able to do business with the U.S. Trade Minister, David Parker, said agricultural exporters should escape punishment. National Trade Spokesperson, Todd McClay, said firms would likely stay away from Iran. New Zealand exports to Iran rose 51 percent to $171 million compared to the previous year. Dairy products accounted for 86 percent of this figure. New Zealand imported $6 million of goods from Iran. Fonterra was a big exporter to the region. Dairy Companies Association of New Zealand Executive Director, Kimberly Crewther, said it was taking President Trump’s threats seriously. She added there were signs shipping companies would alter their routes to avoid sanctions.