After three years and 15 rounds of negotiations, New Zealand signed a free trade agreement with China that will result in the elimination of tariffs on 96 per cent of New Zealand exports to China.
“The signing of this agreement is a very significant achievement for New Zealand. It opens up new opportunities for businesses looking to engage with, or grow their existing links with, China. It will facilitate goods and services trade, and investment.
“Overall, the FTA reduces barriers to our trade with China,” said New Zealand Prime Minister Helen Clark. “It promotes co-operation in a broad range of economic areas, and also provides a platform for further engagement at the governmental, cultural, and people-to-people levels.”
A side agreement will enable up to 1,000 skilled young Chinese travellers to enter New Zealand on working holidays each year. There will also be provision for up to 1,800 skilled Chinese workers to enter New Zealand on work permits each year for work in both specialised fields such as Chinese traditional medicine, Mandarin language teaching, chefs specialising in Chinese cuisine, tour guides, and martial arts teachers, and in areas of specified skills shortage.
“New Zealand and China have also signed binding agreements on labour and environment, aimed at encouraging dialogue and co-operation in these two important areas,” Helen Clark said.
Helen Clark said that a dedicated website containing more information about the FTA is being launched today.
The site, www.ChinaFTA.govt.nz , contains the full text of the agreement and a detailed guide to it. It features tools to assist New Zealand and Chinese businesses to take advantage of the FTA.
The objective is for the FTA to come into force on 1 October 2008, after the New Zealand Parliament has passed implementing legislation, and after the two countries have exchanged notes confirming that domestic legal procedures have been completed.
