New Zealand’s Prime Minister, John Key unexpectedly announced this week that he’s retiring after 8 years in NZ’s top job. PM Key has advised if his Deputy PM and Finance Minister Bill English puts his name forward in the Caucus ballot he will vote for him.

Both leaders have been instrumental in turning around NZ’s economy since they came into government. Key’s announcement focusses on not having enough “left in the tank” to serve a fourth term. He’s confident the Nationals will return to government in the general election in 2017.

In his speech PM Key said that it’s his expectation that on Monday 12 December National MPs will hold a special caucus meeting to select a new leader and later that day he will tender his resignation to the Governor-General.

He leaves the Prime Ministership with a strong economic legacy. eBay’s Kristen Foster was part of an American Chamber of Commerce Trans-Tasman business mission to Auckland recently which focussed on Trans-Tasman policy issues, including trade. eBay looks forward to continuing to work with the NZ Government on issues impacting cross border trade and ecommerce.