Wednesday, 23 February 2022 08:55

China-NZ FTA upgrade

Written by  Staff Reporters
Trade and Export Minister Damien O'Connor. Trade and Export Minister Damien O'Connor.

An upgraded free trade agreement (FTA) between New Zealand and China comes into force from April 7.

"This upgrade is a significant step for us and forms part of a body of work we're doing to drive our economic recovery from Covid," Trade and Export Minister Damien O'Connor says.

The date was agreed in a virtual meeting last week between O'Connor and his Chinese counterpart, Minister of Commerce Wang Wentao.

Goods and services exports between China and New Zealand reached $20.1 billion in the year ending June 2021. O'Connor says New Zealand businesses will benefit from up-to-date rules underpinning trade.

"This upgrade modernises the original 2008 New Zealand-China FTA to ensure it remains fit for purpose," he says.

The upgrade also includes new market access commitments in goods and services, and additional trade facilitation measures.

"In terms of goods, the upgrade will deliver further market access improvements, resulting in tariff-free access for 99 percent of New Zealand's $4 billion wood and paper trade to China, once fully implemented.

"Our existing FTA will also be augmented by new chapters in e-commerce, competition policy, government procurement and the environment."

More like this

The minister of zoom

Trade Minister Damien O'Connor says he and other trade ministers around the world will need to get used to developing relationships via Zoom.

Hort keen to work

Horticulture New Zealand says it is keen to work with the government in the post-Covid recovery.

Featured

Bold taste wins gold medal

Alliance Group's Pure South Handpicked 55 Day Aged Beef has been recognised on the world stage, securing top honours at the World Steak Challenge in the Netherlands.

National

Machinery & Products

» Latest Print Issues Online

Milking It

Fonterra vote

OPINION: Voting is underway for Fonterra’s divestment proposal, with shareholders deciding whether or not sell its consumer brands business.

Follow the police beat

OPINION: Politicians and Wellington bureaucrats should take a leaf out of the book of Canterbury District Police Commander Superintendent Tony Hill.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter