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

 

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Insurers Up For More Payouts: Chch Property Investor Wins Policy Appeal In Supreme Court

Ridgecrest NZ, a property investor, has won an appeal in the Supreme Court over insurance cover provided by IAG New Zealand for a Christchurch building damaged in four successive earthquakes. More>>

ALSO:

Other Cases:

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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