1 Feb 2011

Businesses keeping eye on situation in Egypt

6:54 pm on 1 February 2011

The New Zealand business community is waiting to see what impact the violent political unrest in Egypt will have on the wider Middle East market.

Huge protests have been held throughout the country in the past week with protesters demanding an end to the president's 30-year rule.

New Zealand sold $173 million worth of products to Egypt in 2010.

Export New Zealand executive director Catherine Beard says though Egypt is a relatively small market, all companies with a stake in the region will be worried.

Ms Beard says the Middle East is one of New Zealand's fastest-growing markets and that could be put at risk if political turmoil spreads.

New Zealand Trade and Enterprise says it works with several companies targeting opportunities in Egypt in areas such as telecommunications, healthcare, food and education.

The government body says it is advising businesses to stay up-to-date with information from the Ministry of Foreign Affairs and Trade.