New Zealand-China FTA Takes Effect

The New Zealand-China Free Trade Agreement (FTA), which became effective on October 1, will phase out tariffs on 96 percent of New Zealand's exports to China and liberalize trade in goods and service between the two countries.

New Zealand's Ministry of Foreign Affairs and Trade also stated that the pact would give additional protection to New Zealand investors in China, while at the same time offering assistance to build existing business relationships with Chinese companies.

China currently ranks as New Zealand's third-largest trading partner.

(Source: UPS Trade News [Trade_News@ups-scs.service.com] Oct. 08, 2008)