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

 


Fonterra Welcomes Free Trade Agreement with China

Media Release
7 April 2008

Fonterra Welcomes Free Trade Agreement with China

Fonterra today welcomed the signing of the free trade agreement between New Zealand and China.

Fonterra Chairman Henry van der Heyden said China was rapidly becoming a global powerhouse and it made sense for New Zealand to develop closer ties with one of the world’s fastest growing economies.

“China is a major player in the future global economy, and part of that influence will extend to New Zealand’s economic well-being. Taking steps now to establish closer trading ties is a positive move for New Zealand’s economic future.”

“For New Zealand to be the first developed country to sign such an agreement is a significant achievement, and will stand us in good stead as we further develop our relationship with China.”

Mr van der Heyden said China’s further integration into the Asian and global economies, and its enormous and fast-growing domestic market, were key planks behind Fonterra’s investments in China.

“China’s economic dynamism will have positive long-term flow-through effects for New Zealand.”

Mr van der Heyden said Fonterra had not yet seen the text of the agreement and would need to review the detail closely before quantifying the benefits for dairy. But he welcomed the news that the agreement will lead to the elimination of all tariffs on dairy between China and New Zealand.

“From what we have seen it is clear that this deal will be good for Fonterra and for the New Zealand dairy industry. It will significantly improve access for New Zealand exporters, provide certainty in our trading environment going forward, and support Fonterra’s strategy in China.”

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half Full: Dairy Payouts Steady, Cash Will Be Tight

Industry body DairyNZ is advising farmers to focus on strong cashflow management as they look ahead to the 2015-16 season following Fonterra's half-year results announcement today. More>>

ALSO:

First Union: Cotton On Plans To Use “Tea Break” Law

“The Prime Minister reassured New Zealanders that ‘post the passing of this law, will you all of a sudden find thousands of workers who are denied having a tea break? The answer is absolutely not’... Cotton On is proposing to remove tea and meal breaks for workers in its safety sensitive distribution centre. How long before other major chains try and follow suit?” More>>

ALSO:

Scoop Business: NZ-Korea FTA Signed Amid Spying, Lost Sovereignty Claims

A long-awaited free trade agreement between New Zealand and South Korea has been signed in Seoul by Prime Minister John Key and the Korean president, Park Geun-hye. More>>

ALSO:

PM Visit: NZ And Viet Nam Agree Ambitious Trade Target

New Zealand and Viet Nam have agreed an ambitious target of doubling two-way goods and service trade to around $2.2 billion by 2020, Prime Minister John Key has announced. More>>

ALSO:

Scoop Business: NZ Economy Grows 0.8% In Fourth Quarter

The New Zealand economy expanded in the fourth quarter as tourists drove growth in retailing and accommodation, and property sales increased demand for real estate services. More>>

ALSO:

Scoop Business: RBNZ’s Wheeler Keeps OCR On Hold, No Rate Hikes Ahead

The Reserve Bank has removed the prospect of future interest rate hikes from its forecast horizon as a strong kiwi dollar and cheap oil hold down inflation, and the central bank ponders whether to lower its assessment of where “neutral” interest rates should be. The kiwi dollar gained. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news