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China-New zealand Free Trade Agreements

On April 25-27, 2017, the first round of China-New Zealand free trade agreement was held in Beijing.

Rounds of negotiations, the two sides around the technical barriers to trade, customs procedures and trade facilitation, rules of origin, trade in services, competition policy, e-commerce, agricultural cooperation, the environment, government procurement and other issues to carry out fruitful consultations.

In March 2017, Premier Li Keqiang during his official visit to New Zealand, the two leaders jointly announced that in April in Beijing, China – New Zealand free trade agreement to upgrade the first round of negotiations.

China-Singapore FTA is the first free trade agreement between China and the developed countries. The start of the upgrade negotiations will inject new and strong impetus to the economic and trade cooperation between China and Singapore, so as to benefit the people and enterprises of the two countries, And further consolidate the new comprehensive strategic partnership.

Economic and Trade Relations between China and New Zealand

Since the establishment of diplomatic ties in 1972, bilateral economic and trade relations have developed steadily.

New Zealand in the relationship with China in the forefront of the developed countries, made five “first”

The first bilateral negotiations with China to end WTO accession,
The first to recognize China’s full market economy status,
The first negotiations with China to carry out bilateral free trade agreements,
The first to sign a free trade agreement with China,
The first to sign a free trade agreement with Hong Kong, China.

April 7, 2008, China and New Zealand signed a free trade agreement, October 1 implementation.

China and Singapore have strong economic complementarities in the fields of electromechanical products, agriculture and animal husbandry, trade in services, environmental protection technology and clean energy.

This is the first comprehensive free trade agreement signed by our country covering trade in many areas such as trade in goods, trade in services and investment, which has contributed to the growth of bilateral trade and investment.

Bilateral trade

According to China Customs statistics, in 2014 the new bilateral trade volume of 14.25 billion US dollars, an increase of 15%. Among them, China’s exports to New Zealand $ 4.74 billion, an increase of 14.7%;

Imports from New Zealand $ 9.51 billion, an increase of 15.2%. China’s exports to New Zealand mainly for mechanical and electrical products and clothing, imports from New Zealand mainly dairy products, wood, wool and so on.

Mutual investment

According to the Ministry of Commerce statistics, as of the end of 2014, New Zealand accumulated 1791 investment projects in China, the actual use of new capital 1.36 billion US dollars, mainly in agriculture, forestry, light industry, textile, metallurgy, food processing, medicine, computer and other fields.

According to the Ministry of Commerce statistics, as of the end of 2014, China’s non-financial direct investment in New Zealand 480 million US dollars, mainly related to dairy, resource development, insurance, construction and other fields.

Bilateral economic and trade cooperation mechanism

China – New Zealand Economic and Trade Commission

According to the Intergovernmental Agreement on Trade between China and New Zealand in 1973, the China-New Zealand Economic and Trade Commission (Vice-ministerial level) is held annually in both countries. Has been held for 26 sessions.

China – New Zealand Free Trade Zone Joint Commission
In 2008, the China-New Zealand Free Trade Zone Joint (Bureau level) was established, the two sides each year in turn held a meeting in two countries. In March 2015, the sixth meeting of the FTA was held in New Zealand.