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

Mixed season for Waikato contractors

Last season was a mixed bag for Waikato contractors, with early planted forage maize, planted on the dry soils around Cambridge, doing badly after germination and failing to meet potential, says Jeremy Rothery, Jackson Contracting.

National

Machinery & Products

Gong for NH dealers

New Holland dealers from around Australia and New Zealand came together last month for the Dealer of the Year Awards,…

A true Kiwi ingenuity

The King Cobra raingun continues to have a huge following in the New Zealand market and is also exported to…

Data crucial to managing water

Watermetrics was formed as a water data collector and currently supplies and services modern technology such as flow meters, soil…

» Latest Print Issues Online

Milking It

Another win

OPINION: Feds Southland 'pres' Jason Herrick and colleagues who continue the good fight against bureaucratic madness on behalf of farmers,…

Bagrie bags banks

OPINION: Noted economist and self-promoter Cameron Bagrie took one look at KPMG's recently released Financial Institutions Performance Survey on banks…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter