NZ-Taiwan Economic Agreement positive for seafood trade
Embargoed to 5.30pm 10 July 2013
New Zealand - Taiwan Economic Cooperation Agreement positive for seafood trade
Seafood New Zealand welcomes today’s announcement of the signing of an Economic Partnership Agreement (ANZTEC) between New Zealand and Taiwan and congratulates the Trade Minister, Tim Groser, and his team of negotiators for completing a negotiation that first started under the watch of the previous Labour-led administration.
All of New Zealand’s seafood trade interests with Taiwan have been fully included in the Agreement. All seafood items will be able to enter Taiwan tariff free within eight years – with many products benefitting much earlier.
Seafood New Zealand understands that the trade in seafood products has been one of the more sensitive product sectors for Taiwan and welcomes the commitment of the Taiwanese Government to liberalise this trade.
The ANZTEC Agreement will send a strong trade policy signal to other highly protected economies in Asia.
Taiwan started to emerge as a significant seafood market for New Zealand more than ten years ago. In 2000, exports were worth NZ$ 30 million. However the Taiwanese authorities at the time intervened and the emerging trade quickly retreated and by 2003 exports were down to NZ$15 million.
Today sales to Taiwan are worth NZ 13 million annually – led by fish meal and greenshell mussels. The Agreement will help to restore the New Zealand seafood sector’s competitive advantage as a supplier to a market that appreciates high quality, sustainable seafood.