Parliament

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

 

NZ-China FTA upgrade negotiations conclude

Prime Minister Jacinda Ardern and Minister for Trade and Export Growth David Parker have announced the conclusion of negotiations to upgrade New Zealand’s existing free trade agreement with China.

“This ensures our upgraded free trade agreement will remain the best that China has with any country,” Jacinda Ardern said.

She was speaking at the East Asia Summit in Thailand following her bilateral meeting with China’s Premier, Li Keqiang.

“It reflects the importance both countries place on our relationship and builds on the significant mutual benefits both countries have enjoyed as a result of our excellent existing FTA,” Jacinda Ardern said.

Key outcomes of the upgrade include:

• New rules that will make exporting to China easier and reduce compliance costs for New Zealand exports by millions of dollars each year. This includes, for example, faster border release of fresh food products, and other products that may have transited through other countries en route to China.

• The introduction of environmental considerations - the most ambitious environment chapter and the highest level of commitment that China has agreed in any FTA. It includes commitments to promote environment protection and ensure that environmental standards are not used for trade protectionist purposes.

• The upgrade will also mean that 99% of New Zealand’s $3b wood and paper trade to China will have preferential access, with tariff elimination over a 10 year implementation period on 12 additional wood and paper products worth NZ$36 million in trade to China.

“New Zealand was the first developed country to sign a free trade agreement with China, in 2008, but China’s free trade agreements have evolved since then,” David Parker said.

“This is why we entered into upgrade negotiations: to ensure our agreement is modern and deepens our relationship further, and to ensure that New Zealand’s exporters have a deal as good as, if not better than, their competitors,” David Parker said.

In dairy, existing conditions have been maintained, with all safeguard tariffs to be eliminated within just over two years for most products, and four years for milk powder.

“This means that by January 2024, New Zealand will have the best access to China for dairy products of any country,” Jacinda Ardern said.

“Protections in the existing agreement that are important to New Zealanders such as New Zealand’s rules on overseas investment and the Treaty of Waitangi exception remain secure,” Jacinda Ardern said.

The outcome is the result of nearly three years of negotiations. Next steps include legal verification of the draft text, with the signing and release of the text expected in early 2020. China is New Zealand’s largest trading partner, with two-way trade recently exceeding $32 billion dollars.

NB: MFAT will be releasing a joint NZ-China media statement on its website.


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Overseas Investment Rules: New National Interest Test

Associate Finance Minister David Parker said under current Overseas Investment Act rules, assets such as ports and airports, telecommunications infrastructure, electricity and other critical infrastructure are not assessed through a national interest lens.

“We are introducing a number of new powers, consistent with global best practice, to protect New Zealanders’ best interests in such important – often monopoly – assets,” David Parker said.

Responding to concerns about overseas investment in water bottling, the Government will also require consideration of the impact on water quality and sustainability of a water bottling enterprise, when assessing an investment in sensitive land. More>>

 

Matter Of Trust: Peters Says NZ First Loans Legal

"Allegations raised this morning by Stuff Limited / Fairfax concern a party matter but I am confident that New Zealand First has operated within electoral laws, now and for the last 27 years." More>>

ALSO:

PGF CONFLICT OF INTEREST:

Gordon Campbell: On Labour’s Age Problem, And The Port Hills

Labour has been steadily improving its gender balance to the point where there are now 21 women in its caucus out of 46 MPs in all... Yet Labour has been just as steadily losing the generational battle to the Greens. More>>

ALSO:

Child Deaths Revealed: NZDF Deal To Clear Afghan Firing Ranges

The Defence Force has agreed a deal to clear unexploded ordnance in Afghanistan after revelations seven children were killed by unexploded devices left there. More>>

ALSO:

Charles & Camilla: Visit Takes Royals From Waitangi To Christchurch

Domestic violence services, conservation and education are all on the list for the royal tour. The Prince of Wales and the Duchess of Cornwall will spend a week travelling the country from Waitangi to Christchurch. More>>

ALSO:

Gordon Campbell: On The Farming Sector’s Persecution Complex

The narrative that our farmers are ‘doing it tough’ plays into a number of wellworn stereotypes ... More>>

ALSO:

corrections, prisonCorrections: Independent Review Of Prisoner Mail Management

The independent review into the prisoner mail system has today been released, with Corrections accepting all 13 recommendations and making a number of changes to strengthen the management of prisoner mail. More>>

ALSO:

IPCA: Unlawful Detention Of Teenager; Influence Of Investigation

The Independent Police Conduct Authority has found that former Inspector Hurimoana Dennis unlawfully detained an Auckland teenager in 2015, and improperly influenced the outcome of a criminal investigation into his own son in 2014. More>>

ALSO:

SOP For Gun Bill: New Measures For Modified Pistols

The new controls will • Prohibit short-barrelled semi-automatic rifles which currently are defined as pistols because they are shorter than 762 millimetres. • Introduce tighter controls over pistol carbine conversion kits… • Prohibit firearms which contain a part known as a centrefire lower receiver… More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels