NZIBF Welcomes China FTA Upgrade
Media release, 4 November 2019
New Zealand’s trade relationship with China stands to be further enhanced by the upgrade of the Free Trade Agreement (FTA) announced today, says the NZ International Business Forum.
“China is our largest trading partner and the FTA, which is now eleven years old, needed to be brought up to date. We congratulate the two governments and their officials who have worked hard to reach this point” said NZIBF Executive Director Stephen Jacobi.
Mr Jacobi said improved market access for wood products was a positive result, along with new rules for e-commerce and non-tariff barriers, but some challenges remain in the Chinese market, particularly for dairy and meat products.
“The FTA has been a stand-out success in boosting trade and investment between the two countries. Inevitably further gains are harder to achieve, but as this upgrade shows the FTA remains a vital framework for continuing to expand the relationship particularly at a time when protectionism is on the rise around the world”.
About NZIBF (www.tradeworks.org.nz)
NZIBF is a business organisation which aims to generate wealth for New Zealanders by helping ensure that New Zealand enterprises are fully integrated and engaged in the global economy and New Zealand’s global competitive position is maximised.