NZ-EU FTA enters into force
Trade Minister Todd McClay says Kiwi exporters will be $100 million better off today as the NZ-EU Free Trade Agreement (FTA) comes into force.
Prime Minister John Key has announced the launch of negotiations to upgrade the New Zealand - China Free Trade Agreement (FTA).
The announcement followed a meeting this morning with Trade Minister Todd McClay and Chinese Commerce Minister Gao Hucheng at the APEC Summit in Lima, Peru. Key and President Xi welcomed the commitment to an upgrade at the APEC Leaders’ retreat today.
“New Zealand was the first developed country to negotiate and conclude an FTA with China, and I’m pleased that today we have reached the fifth ‘first’ in our relationship, as the first developed country to launch an upgrade of an FTA,” says Key.
“It has been eight years since our FTA with China came into force and it has exceeded all expectations. It has an enviable record and showcases to the world the importance of trade liberalisation.
“The upgrade will be an opportunity to deepen and broaden our comprehensive strategic partnership.
“It will ensure that our FTA continues to drive our relationship forward and takes into account the FTAs that China has negotiated with other trading partners since 2008.”
The negotiations will look to improve or enhance the broad range of areas already covered by the FTA. This gives either party the ability to raise issues of importance to them, and includes technical barriers to trade, customs procedures, cooperation and trade facilitation, rules of origin, services, and environmental cooperation. It will also address a number of newer areas such as competition policy and e-commerce.
A first round of negotiations will be held in the first half of 2017.
China is New Zealand’s second-largest goods and services export market and our largest export destination for goods. In the year ending June 2016, the value of goods and services exports totalled $12.2 billion.
Since the FTA, New Zealand’s goods exports to China have quadrupled, reaching $9.2 billion, and services exports have tripled, reaching $3.0 billion.
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
Horticulture NZ chief executive Nadine Tunley will step down in August.