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

 

Gareth Morgan: The Government’s Fresh Water Policy – Revisited

Fresh water quality is the latest area to be in the sights of Gareth Morgan and his research organisation The Morgan Foundation... They found that the fresh water policy was a bit murkier than the Environment Minister let on. More>>

ALSO:

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Scoop Business: Embrace Falling Home Affordability, Says NZIER

Despair over the inability to afford a house is misplaced and should be embraced as an opportunity to invest in more wealth-creating activity, says the principal economist at the New Zealand Institute of Economic Research, Shamubeel Eaqub. More>>

Productivity Commission: NZ Regulation Not Keeping Pace

New Zealand regulators often have to work with out-of-date legislation, quality checks are under strain, and regulatory workers need better training and development. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news