Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Many Questions Hang Over NZ - China FTA

Media Statement
Monday, November 22, 2004

Many questions hang over NZ - China FTA

Many questions remain to be answered before New Zealand finally signs up to the free trade agreement with China, the Employers & Manufacturers Association (Northern) says.

"It may be tempting, though it would not be business savvy for New Zealand, to take a gung ho attitude into the free trade agreement with China," said Bruce Goldsworthy, EMA's Manager of Manufacturing Services.

"Many questions remain over the measures that should be taken to ensure the ultimate agreement is as secure and fair as possible to all affected parties," he said.

"Some of the questions for which New Zealand manufacturers want more detail involve intellectual property, environmental and other standards, and a host of non-tariff issues which seem to be included in the processes already announced.

"Others are far from transparent. They include for example:

* the extent that the economic modelling work showing export growth of several hundred millions a year to China is of raw commodities such as milk powder and logs, and which could see New Zealand retreat from a knowledge based economy;

* the credibility of the economic modelling showing export growth to China of at least $260 million a year every year from 2007 for the next 20 years;

* the extent the FTA will sponsor trade diversion away from niche markets and into single market dependency.

"Manufacturing is our largest employing sector with 290,000 jobs, 14.7 per cent of the total and substantially more than the next highest sector, retailing. Most of these are knowledge and skills rich and striving to become more so.

"While we welcome the trade initiatives announced at the APEC summit in Chile, we would do well to take stock of what the vision is for New Zealand's development in light of them.

"Getting the speed wobbles with all the new deals on offer threatens to slow the country down, not enhance our growth prospects."

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news