New Zealand-China Free Trade ‘Upgrade’ to Come Into Force April: Trade Minister

New Zealand’s (NZ) trade minister met last week with his Chinese counterpart to finalise details around an “upgrade” to its free trade agreement (FTA), which will come into effect on April 7. NZ’s Damien O’Connor said it was a “significant step” for the FTA, which was signed originally in 2008—and was the first FTA between Beijing and a developed country. “Our trade agenda has very good momentum, with our primary industry exports forecast to hit a record $50 billion (US$33.45 billion) this year alone,” O’Connor said in a statement. “Goods and services exports between China and New Zealand reached $20.1 billion in the year ending June 2021,” he said. “This upgrade modernises the original 2008 New Zealand-China FTA to ensure it remains fit for purpose.” The upgrade was signed-off almost one year prior in late January. The agreement is slated to give exporters even more access to the Chinese market, including …

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