Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Growth in trade with Singapore stimulated by CEP

Growth in trade with Singapore stimulated by CEP

Trade with Singapore has increased, following the implementation of the Closer Economic Partnership Agreement between New Zealand and Singapore, Trade Negotiations Minister Jim Sutton and Acting Customs Minister Jim Anderton said today.

Both ministers emphasised that the rules of origin under the agreement were being rigorously enforced.

The Singapore CEP agreement came into effect on 1 January this year.

New Zealand Customs Service figures for January-March show an increase in trade of 19 per cent compared to the same three months last year.

Imports were up 11 per cent while exports were up 27 per cent.

These figures show the same trend as data released by the Singapore Government after the first two months of the agreement, although the figures cannot be directly compared because of different methods of data collection and analysis.

To qualify for duty-free entry to New Zealand under the CEP Agreement, the goods must meet the rules of origin set out in the agreement. Importers must advise New Zealand Customs when they claim duty-free status for their goods under the agreement, known as a tariff preference, and Customs has to be satisfied the claim is legitimate.

Jim Anderton said Customs was checking shipments of textiles, clothing and footwear from Singapore, to ensure the rules designed to protect New Zealand manufacturers from unfair competition were being followed.

Most of Singapore's exports to New Zealand already entered New Zealand duty-free.

Since January, less than one per cent of total imports from Singapore entered under the agreement's provision for tariff preference on goods of Singaporean origin. Tariff duty forgone in the past three months due to Singapore's preferential tariff has been minimal.

Mr Sutton said that despite unfounded fears in some quarters that the CEP would result in a sudden influx of textiles, clothing and footwear products into New Zealand from Singapore or third countries under the new zero tariff, this was not happening.

"There has in fact been a very low level of TCF imports under the tariff preference. This means TCF imports from Singapore are continuing to pay the normal tariff, because they do not meet the rules of origin provided for in the Agreement."

Jim Anderton said New Zealand manufacturers could have confidence that the Customs Service was playing its part in enforcing the rules while facilitating fair trade.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Bridges’ ‘Meth Crooks’ Leadership Failure

Back in June, Bridges publicly accepted that Housing NZ had got it wrong, and that the National government had acted upon bad advice.

Now, you’d think this admission would create a broad bi-partisan basis for compensation to those families who had been unfairly evicted, at considerable cost and emotional distress. Some people had lost their possessions in trying to meet the expense of the upheaval.

Not everyone felt so compassionate. More>>

 

Multimedia & Transcript: Acting PM's Press Conference

Winston Peters, Acting Prime Minister while Jacinda Ardern is in New York for the UN Leaders' Week, held a short press conference Monday after chairing this week's cabinet meeting. More>>

General Assembly: Ardern Rejects Trump Call For War On Drugs

New Zealand will not be signing the United States' document calling for global action on the war on drugs, Prime Minister Jacinda Ardern says. Ms Ardern is in New York for the United Nations General Assembly this week, along with about 140 other world leaders. More>>

ALSO:

Pay Equity: Cabinet Funds Deal For Oranga Tamariki Social Workers

The Minister said that an agreement in principle has been reached between Oranga Tamariki and the PSA on a settlement worth $114.6m over five years. More>>

ALSO:

Hunting v Pest Control: Tahr Control Needed To Protect Alpine Habitats

A cull of introduced Himalayan tahr browsing conservation land in Kā Tiritiri o Te Moana/ the Southern Alps is needed to protect special alpine plants and their habitats, Conservation Minister, Eugenie Sage said. More>>

ALSO:

Protest At Sea: Judge Discharges Greenpeace Activists

The judge today discharged Norman and Howell without conviction, saying the cumulative consequences of a conviction would be out of proportion to what was “low level” offending off the Wairarapa coast in April 2017. More>>

ALSO:

No Reshuffle: Meka Whaitiri Removed As A Minister

Meka Whaitiri will be removed as a Minister with immediate effect... The decision was made after receiving a report into an incident that occurred on 27 August in Gisborne, involving Meka Whaitiri and one of her staff. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels