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


New Zealand-Thailand Closer Economic Partnership

New Zealand-Thailand Closer Economic Partnership

The Government announcement that New Zealand and Thailand have finalised a Closer Economic Partnership (CEP) has been welcomed by Meat & Wool New Zealand.

“Thailand is an important future market for the New Zealand meat and wool sectors,” commented Jeff Grant, Chairman of Meat & Wool New Zealand.

“Thailand’s economy, like many in the South Asian region, is currently experiencing rapid and consistent economic growth. It also has a growing hotel and restaurant sector, which demands high quality beef for the tourist trade.”

“On implementation the CEP will provide immediate improvements in market access for our producers and create new opportunities for the future. Australia finalised a similar agreement with Thailand earlier this year, and it is encouraging to know that New Zealand producers and exporters will not be comparatively disadvantaged in the Thai market,” says Jeff Grant.

The CEP will result in tariff cuts for meat and wool exports to Thailand. “The 1% tariff for raw wool will be eliminated immediately, however, the tariffs for beef, offal and sheepmeat will be phased out over specific time periods,” he said.

The current 30% tariff on sheepmeat will drop to 24% on implementation and then phase to zero by 2010. The 50% tariff on beef will drop to 40% on implementation and will phase down to zero by 2020. The 30% tariff on beef offal will phase to zero by 2020.

Mr Grant said a special safeguard provision for beef and beef offal imports was included in the agreement, but noted that it allowed for a review of the safeguard levels after three years.

“The safeguard provision allows New Zealand to export beef and beef offal up to certain volumes, however, once the volume levels are triggered, Thailand will be entitled to charge additional duties,” he said. The Australian agreement contains a similar provision.

In the 12 months to September 2004, New Zealand exported $17 million (FOB) of meat and wool products to Thailand and just over half of this was made up of raw wool. Volumes of sheepmeat, beef and offal exports are expected to continue to grow strongly off a low base.

Notes for Editors: New Zealand Exports to Thailand for year ended 30 September 2004:

Lamb: 268 tonnes $2.4 million (FOB)

Beef: 432 tonnes $4.7 million

Beef offal: 764 tonnes $1.5 million

Wool: 1,425 tonnes $8.6 million

© Scoop Media

Business Headlines | Sci-Tech Headlines


Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>