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NZ-HK trade deal welcomed

NZ-HK trade deal welcomed

The announcement of a closer economic partnership (CEP) between Hong Kong and New Zealand is being warmly welcomed by the Hong Kong New Zealand Business Association (HKNZBA).

HKNZBA President Eva Ho says NZ Trade Minister Tim Groser’s comments that ‘Hong Kong is an extremely sophisticated market and its proximity and special relationship with mainland China makes it a very important strategic partner in the region for New Zealand’, go straight to the core of the agreement’s importance in New Zealand’s trading portfolio.

“Traders have long taken advantage of Hong Kong’s free trade policies,” Ms Ho says. “More recently HK dropped its duties on wine and look how New Zealand has been able to hugely benefit from that. There has been rapid growth in the volume of NZ wine sold to Hong Kong and into the mainland. Last week saw 40 NZ wineries exhibit at ῴhe HK Wine Fair and win 90 medals and three tr`phies in the associateῤ competition.ᾕ

“Now the CEP agreement will allow our service sector to truly explore opportunities in the same way. Prime Minister John Key has pointed to education, tourism, business and environmental services and investment as being winners here. Our understanding is that professionals in many service sectors will also benefit at a career opti`ns level.

Ms Ho says the detail of the agreement has yet to be released and the formal signing of the CEP is not expected until early-mid 2010. But as soon as the signing is complete the HKNZBA will be helping the NZ Government to disseminate information.

ends

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