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New Zealand and China upgrade trade pact will cut tariff barriers

THE recent Sino-New Zealand trade pact upgrade brings the agreement up to date for at least another 10 years, says New Zealand Trade Minister Damien O'Connor, reports the New Zealand Herald

28 January 2021 - 19:00
THE recent Sino-New Zealand trade pact upgrade brings the agreement up to date for at least another 10 years, says New Zealand Trade Minister Damien O'Connor, reports the New Zealand Herald.

Prime Minister Jacinda Ardern confirmed the signing of the expanded deal. 'China remains one of our most important trade partners. For this to take place during the global economic crisis brought about by coronavirus makes it particularly important,' she told a news conference.



Mr O'Connor signed the upgrade in a virtual ceremony with Chinese Commerce Minister Wang Wentao.



The pact provides for tariffs to be either removed or cut on many of New Zealand's mostly commodities-based exports, ranging from dairy to timber and seafood, while compliance costs will also be reduced.


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