China FTA Upgrade Shows NZ Can Do Business With China

by | Jan 26, 2021 | Media Releases

Remove

Media release, 26 January 2021

The virtual signing of the Upgrade of the New Zealand China Free Trade Agreement today is a great start to the new year, say business leaders from the NZ International Business Forum (NZIBF).

“This is good news at a difficult time and comes on the heels of the signing of the Regional Comprehensive Economic Partnership (RCEP) in November” said NZIBF Chair Philip Gregan.

“It shows that trade liberalisation is still possible even in the midst of a global pandemic and that New Zealand and China can pursue a mutually beneficial economic relationship despite the differences between us”.

China is New Zealand’s largest trading partner and the Upgrade to the 2008 Free Trade Agreement was concluded in November 2019.  The signing was delayed by the pandemic and by New Zealand’s general election.

“The China FTA was a ground-breaking agreement when it was signed in April 2008.  It gave New Zealand a first mover advantage in the Chinese market and trade has expanded as a result.  In the interim China has implemented a number of FTAs with our competitors.  This Upgrade brings the FTA up to date and adds some new, important elements such as the new chapters on e-commerce, trade and the environment and government procurement, as well as some new commitments on services and some modest market access on wood and paper products”.

“We thank both Governments for their efforts to secure the Upgrade at a time when many pressures are being brought to bear on the international trading system and congratulate Trade Minister O’Connor and officials on signing the deal today”, concluded Mr Gregan.

REGISTER WITH TRADE WORKS

Register to stay up to date with latest news, as well as saving and discussing articles you’re interested in.

Latest News

AMIDST THE STORM: ABAC MEETS IN AUCKLAND

Perhaps a cyclone was after all a fitting backdrop for the meeting of the APEC Business Advisory Council (ABAC) which was held in Auckland on 12-14 February – the global environment against which the meeting took place is decidedly stormy.  In the event the wind...

A YEAR FOR RECONNECTING

As I write this end of year dispatch, NZIBF is preparing to host the first meeting for 2023 of the APEC Business Advisory Council (ABAC).  We are looking forward to welcoming the 200 or so business leaders and senior officials from APEC member economies across the...

NZ Herald: Time to lift our game in India

Following his recent visit to India our Executive Director Stephen Jacobi penned this article advocating a more strategic approach to the further development of the relationship. The article was published by the NZ Herald on 9 December.

APEC Rolls out Priorities for 2023

Issued by the Informal Senior Officials’ Meeting - Honolulu, The United States, 13 December 2022 Aiming to provide tailwinds for member economies to strengthen recovery and resilience, as well as advance broad-based economic growth, the United States rolled out its...

NZIBF 2022 Chair Report

ANNUAL GENERAL MEETING 2022 CHAIR’S REPORT I am pleased to present my second report on the activities and achievements of the NZ International Business Forum (NZIBF) for 2022-23, our fifteenth year of operations.  At the outset I would like to thank Members for...

NZ BUSINESS LEADERS AT APEC 2022

New Zealand business will be represented at the APEC Leaders’ Week in Bangkok, commencing 13 November, by members of the APEC Business Advisory Council (ABAC). New Zealand’s three members – Rachel Taulelei, Malcolm Johns and Anna Curzon – supported by Stephen Jacobi...

Submission to MFAT for CPTPP Review

30 September 2022 Phil Mellor Economic Division, Ministry of Foreign Affairs and Trade, Wellington (By email) Dear Phil, Thank you for your email of 1 September, seeking our comments on the three year review of the Comprehensive and Progressive Agreement for Trans...