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Cheers for new CER rules
Media statement Friday, February 3rd, 2006
Cheers for new CER rules
Manufacturers will give the Government three cheers for achieving more liberal Rules of Origin under the Closer Economic Relations agreement with Australia, says Bruce Goldsworthy for the Employers & Manufacturers Association (Northern).
“New Zealand manufacturers have backed a change such as this for years,” he said.
“It’s been Australia’s manufacturers holding back the change; they were slow to see the benefits there would be for them as well.
“Australia is by far our largest trading partner; New Zealand manufacturers export about $5 billion of products across the Tasman each year. Two way trade including services is worth about $18 billion.
“The old rule where products had to contain 50 per cent ex-factory value to qualify for duty free access has well and truly run its course.
“It was subject to the vagaries of exchange rate movements and in effect prevented productivity improvements.
“The new rules are process based requiring a change in the essential character of products and materials and is in line with international practice.”
ENDS
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