China New Zealand Free Trade Agreement Text

September 14, 2021

Under the agreement, 37% of Chinese exports to New Zealand and 35% of New Zealand`s exports to China will be exempted by October 2008. All tariffs on Chinese exports to New Zealand will be eliminated by 2016 and 96% of New Zealand exports to China will be duty-free by 2019. [2] Mutual investment and trade in services are also facilitated. [3] The Trans-Pacific Strategic Economic Partnership (P4) agreement is an agreement between Brunei Darussalam, Chile, Singapore and New Zealand. The P4 agreement, which stands for “Pacific 4”, entered into force in 2006. Under P4, most tariffs on goods traded between Member States were immediately abolished, with the remaining duties due to expire (by 2015 for Brunei Darussalam and 2017 for Chile). In some circumstances, trade negotiations with a trading partner have been concluded, but they have not yet been signed or ratified. This means that the negotiations are over, but no part of the agreement is yet in force. The New Zealand-Malaysia Free Trade Agreement (MNZFTA) was signed in Kuala Lumpur on 26 October 2009 and entered into force on 1 August 2010. Malaysia is also a party to the ASEAN-Australia Agreement on the New Zealand Free Trade Area (AANZFTA). Distributors should consider the agreement that offers the most benefits for their imported/exported products. Goods may be transported and preferred by a non-contracting party to the Agreement. However, the goods may not enter the trade or activity of another Party, nor may they undergo certain operations other than unloading, transhipment, repackaging and other processes necessary to keep the goods in good condition while in transit through that non-Party.

In 2014, China and New Zealand announced that they would work to upgrade the free trade agreement. The upgrade is expected to be completed at some point in 2016. [16] Thailand is also a party to the AANZFTA agreement. Distributors should consider the most appropriate agreement for their imported/exported products. On 7 April 2008, Chinese Premier Wen Jiabao and New Zealand Prime Minister Helen Clark attended the signing of the China-New Zealand Free Trade Agreement, which entered into force on 1 October 2008, in Beijing. The agreement, which covers areas such as trade in goods, trade in services and investment, is the first comprehensive free trade agreement ever signed by China and the first free trade agreement signed by China with a developed country. The ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) is a regional trade agreement between the Association of Eastern Southern Nations (ASEAN), Australia and New Zealand. Entered into force in 2010 for Australia, New Zealand, Brunei, Myanmar, Malaysia, the Philippines, Singapore, Thailand and Vietnam, AANZFTA entered into force in 2011 for Laos and Cambodia and for Indonesia in 2012. For more information on the rules of origin and the application of this Agreement, please see Fact Sheet 30 – Thailand Closer Economic Partnership Agreement (PDF 262 KB). For more information on the Thai CEP, also visit the AMF website.

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