Does NZ have an FTA with China?

Does NZ have an FTA with China?

New Zealand has had a long and positive trade history with China. In 2004, it became the first developed country to commence FTA negotiations with China and in 2008, it was the first country to conclude FTA negotiations with China. In 2020, it became the first country to upgrade its existing FTA with China.

What has New Zealand gained from the FTA with China?

In early November 2019, New Zealand and China agreed to upgrade their free trade agreement. New provisions have included making exports to China easier, improving China’s commitment to environmental standards, and giving New Zealand preferential access to the wood and paper trade with China.

Does NZ trade with China?

New Zealand and China are close trading partners. China is New Zealand’s largest trading partner, with two-way trade (exports and imports of goods and services) exceeding NZ$33 billion. New Zealand exports to China.

Which countries have FTA with China?

China’s FTA partners are ASEAN, Singapore, Pakistan, New Zealand, Chile, Peru, Costa Rica, Iceland, Switzerland, Maldives, Mauritius, Georgia, Korea, Australia, Hong Kong, and Macao.

Are China and New Zealand allies?

China is New Zealand’s largest trading partner in goods and second largest trading partner in services. In addition to formal diplomatic and economic relations, there has been significant people–to–people contact between China and New Zealand.

What countries does NZ have free trade agreements with?

New Zealand signed a FTA involving 11 countries in the Asia-Pacific region, including Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore and Vietnam called the the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP): Comprehensive and Progressive Agreement …

What has New Zealand gained from the FTA with China ?: Two counterfactual Analyses?

NZ exports to China were more than 200% higher in 2014 than what they would have had the FTA never been signed. NZ’s food and live animals exports to China were more than 180% higher in 2014 than the counterfactual.

Who is China’s largest importer?

United States
List of largest trading partners of China

Rank Country / Territory Imports
1 United States 153.9
2 European Union 197.9
ASEAN 236.4
3 Japan 165.8

What percentage of NZ exports go to China?

In June 2021, China received 32 percent of New Zealand’s total exports.

Which countries have FTA with Russia?

On October 18, 2011, eight countries (Russia, Belarus, Ukraine, Moldova, Tajikistan, Armenia, Kazakhstan, and Kyrgyzstan) from the Commonwealth of Independent States (CIS) signed and then in the following years ratified a Free Trade Agreement (FTA), which provides the free movement of goods within the territory of the …

What is the relationship between New Zealand and China?

China is New Zealand’s largest trading partner in goods and second largest overall including trade in services. The New Zealand–China Free Trade Agreement (FTA) signed in 2008 was China’s first FTA with a developed country.

How does the China New Zealand FTA upgrade affect New Zealand?

The China-New Zealand FTA Upgrade modernizes the 2008 bilateral free trade treaty provisions, introduces new considerations like environmental safeguards, widens market access for services trade, removes more tariffs, and reduces compliances for New Zealand exporters.

When did New Zealand sign a free trade agreement with China?

(NZ Legislation). The New Zealand–China Free Trade Agreement (NZCFTA) entered into force on 1 October 2008. NZ was the first OECD country to sign a comprehensive free trade agreement with China.

Who is the largest trading partner of New Zealand?

China is New Zealand’s largest trading partner. Information on how to use the free trade agreement. Read the Agreement text, feasibility studies, national interest analysis and more. We’ve upgraded the existing free trade agreement.

Who is the Trade Minister for New Zealand?

The Protocol to Amend the New Zealand-China Free Trade Agreement was formalized on a video call by New Zealand Trade Minister Damien O’Connor and China’s Commerce Minister Wang Wentao, concluding three years of negotiations, which first started in 2016