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

 


FTA with China opens opportunities for seafood

Free Trade Agreement with China opens opportunities for seafood industry

7 April 2008

The signing of a FTA (free trade agreement) with China today will create further market development opportunities for the New Zealand seafood industry, says New Zealand Seafood Industry Council’s general manager of trade, Alastair Macfarlane.

“The ability to trade more freely and actively with China is welcome. China takes close to 10 percent of NZ seafood exports by value, which was around NZ$117 million in 2007. This is an important market for us,” Mr Macfarlane said.

When you include exports of seafood to Hong Kong, including live rock lobster, that total exports figure is over NZ$250 million, he said.


New Zealand’s 2007 seafood exports to China:

Hoki NZ$ 22 million

Squid NZ$15 million

Warehou species NZ$9 million

Deep Sea Dories NZ$8 million

Southern Blue Whiting NZ$7 million

Orange Roughy NZ$6 million

Jack Mackerel NZ$6 million

Fish Meal NZ$24 million

New Zealand’s 2007 seafood to Hong Kong:

Rock Lobster NZ$107 million

Paua NZ$31 million

Other seafood NZ$35 million

A large proportion of seafood exports to Hong Kong is consumed in China, particularly Rock Lobster and Paua (as canned abalone). When sales to China through Hong Kong added to direct exports to China make it one of the top three markets for New Zealand seafood exports, alongside the European Union and Australia, Mr Macfarlane says.

“China has become an important provider of seafood processing services to New Zealand seafood companies. A large proportion of the finfish and squid exported to China is further processed there and re-exported to markets in North America, Japan and Europe.”

Seafood exports to China for consumption in China has attracted tariffs of over 10 percent. The FTA will lead to removal of those tariffs over time. High value live and chilled products will expand accordingly.

“Iwi are significant stakeholder in the New Zealand seafood industry,” Mr Macfarland said, “and the FTA will provide significant benefit to Iwi both directly as a market for fish catches arising from quota owned by Iwi, and through Iwi shareholdings in seafood.”

China is also the leading source of imported seafood products into New Zealand – particularly of processed, canned and frozen seafood items including shrimps, scallops and mussels. Chinese seafood product enters the New Zealand market tariff free.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

No Voda/Sky: Commission Declines Clearance For Merger

The Commerce Commission has declined to grant clearance for the proposed merger of Sky Network Television and Vodafone New Zealand. More>>

ALSO:

EARLIER:

Power: IEA Report On New Zealand's Energy System

Outside of its largely low-carbon power sector, managing the economy’s energy intensity and greenhouse gas emissions while still remaining competitive and growing remains a challenge. More>>

ALSO:

NASA: Seven Earth-Size Planets Around A Single Star

NASA's Spitzer Space Telescope has revealed the first known system of seven Earth-size planets around a single star. Three of these planets are firmly located in the habitable zone, the area around the parent star where a rocky planet is most likely to have liquid water. More>>

ALSO:

Auckland Transport Case: Men Guilty Of Corruption And Bribery Will Spend Time In Jail

Two men who were found guilty of corruption and bribery in a Serious Fraud Office (SFO) trial have been sentenced in the Auckland High Court today... The pair are guilty of corruption and bribery offences relating to more than $1 million of bribes which took place between 2005 and 2013 at Rodney District Council and Auckland Transport. More>>

ALSO:

Hager Raid: Westpac Wrong To Release Bank Records To Police

The Privacy Commissioner has censured Westpac Banking Corp for releasing without a court order more than 10 months of bank records belonging to the political activist and journalist Nicky Hager during a police investigation into leaked information published in Hager's 2014 pre-election book, 'Dirty Politics'. More>>

ALSO:

EARLIER:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news