NZ China Council Welcomes NZ China Free Trade Upgrade
The New Zealand China Council welcomes the upgrade to the New Zealand China Free Trade Agreement (FTA).
Chairman Sir Don McKinnon says the successful conclusion of negotiations to upgrade the 2008 agreement shows the bilateral relationship is in good heart.
“It’s encouraging to see improved rules for trade between New Zealand and China. The ability to address a number of tariff and non-tariff barriers to trade is good news for our exporters.
“The re-allocation of visa numbers to allow more Chinese language teachers will boost our capacity in Chinese language, something the Council has consistently advocated for.
“Improvements to rules on trade in e-commerce are also welcome, given the growth in this type of trade between New Zealand and China,” Sir Don says.
The agreement to conclude the upgrade demonstrates the governments of New Zealand and China are continuing to work closely together, and are focused on cooperation that boosts the economies of both countries.
“The original FTA is now more than 10 years old, and in that time there have been significant changes in trade globally, as well as between New Zealand and China. The upgrade will serve to strengthen and future-proof our relationship with our largest trading partner,” Sir Don says.
Two-way trade with China is now worth almost $30 billion a year, with exports to China worth $15.5 billion and imports worth $12.9 billion.
More information can be found on MFAT’s website at www.mfat.govt.nz/chinaftaupgrade.