The governments of New Zealand and China have entered into discussions to “upgrade” the free trade agreement between the two countries. 

Prime Minister John Key today (21 November) announced the launch of negotiations following a meeting between NZ Trade Minister Todd McClay and Chinese Commerce Minister Gao Hucheng at the APEC Summit in Lima, Peru. 

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

“It has been eight years since our FTA with China came into force and it has exceeded all expectations. It has an enviable record and showcases to the world the importance of trade liberalisation,” Key said. “The upgrade will be an opportunity to deepen and broaden our comprehensive strategic partnership. It will ensure that our FTA continues to drive our relationship forward.”

The negotiations will look to improve or enhance a range of areas already covered by the FTA, including technical barriers, customs procedures, cooperation and trade facilitation, rules of origin, services and environmental cooperation. It will also address a number of newer areas such as competition policy and e-commerce, the NZ government noted. 

A first round of negotiations will be held in the first half of 2017.

See Also:

The news was welcomed by dairy cooperative Fonterra, which is the world’s largest dairy exporter. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“The upgrade of the FTA provides an opportunity to strengthen the already strong dairy relationship between New Zealand and China. I am pleased that the leadership of both countries recognise the value of continuing to improve the FTA. We are committed to continuing to build our business in China and the FTA will remain the key platform for that growth,” Fonterra chairman John Wilson said. 

China is New Zealand’s largest dairy export market with NZD2.7bn (US$1.9bn) worth of trade in 2015.