BusinessNZ says our product labelling regulations are a multi-billion dollar issue for New Zealand

The Ministry for Regulation's reviewing the standards, and expects to be finished this side of Christmas.

Minister David Seymour says more than 30 different codes need to be complied with, which seem overly restrictive.

BusinessNZ CEO Katherine Rich says some companies are deciding not to sell to our market, because it's so difficult.

She says sometimes Medsafe or MPI would try to bring in a new rule, which would lead to the company not launching in New Zealand at all.