26 October 2003 Media release

China, NZ Ministers sign arrangement on technical barriers to trade

Hon Jim Anderton, Minister for Economic Development, signed an arrangement on Technical Barriers to Trade with Chinese Minister Li Changjiang today.

“This is a welcome development. With global tariffs coming down, reducing technical barriers to trade has become the focus of international effort”, Jim Anderton said.

Technical regulatory requirements can impose considerable transaction costs on companies operating across borders. Companies are faced with having to comply with different standards or specifications for their products and, in some cases, are required to double test their products.

Jim Anderton noted that this arrangement with China would provide New Zealand with the opportunity to develop a cooperative relationship with Chinese counterparts and improve knowledge and understanding of our respective technical and regulatory regimes.

“It will help build confidence in the strength of each other’s technical infrastructure and regulatory approaches and will find ways to reduce compliance costs faced by New Zealand businesses which export to China,” Jim Anderton said.

The first meeting of senior officials in terms of the arrangement will be held next year.

www.beehive.govt.nz/anderton or www.progressive.org.nz

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