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North Asia covers China and Mongolia, Hong Kong, Macao and Taiwan, North and South Korea, and Japan. The region includes some of the world’s fastest-growing and most powerful industrial economies and has a population of more than 1.5 billion.
North Asia's economic prosperity and political stability is crucial to New Zealand.
As the economies of North Asia develop and mature, New Zealand is continually looking for new opportunities and initiatives for cooperation. Investment, science and technology, tourism and education cooperation are examples of activities underway between New Zealand and North Asia.
We work closely with North Asian countries in international organisations such as the UN and regional organisations including APEC and the ASEAN Regional Forum (ARF).
The shift of economic influence to Asia over recent years has Japan, China and the Republic of Korea at its centre. These three North Asian countries are increasingly important for New Zealand as economic and trading partners, and their weight in international political and regional strategic affairs is increasing. China in particular is growing rapidly in importance both bilaterally and regionally.
China, Japan, the Republic of Korea and Taiwan are respectively our second, fourth, fifth and eighth largest trading partners. Together with the Hong Kong Special Administrative Region they account for 23 percent of New Zealand's merchandise exports (NZ$10.7 billion) and 27 percent of imports (NZ$12.25 billion).
New Zealand and North Asia are natural trading partners, with primary produce from New Zealand being ‘exchanged’ for manufactured goods from North Asia. Nearly two thirds (61 percent) of international students in New Zealand come from North Asia, along with 14 percent of tourists.
New Zealand - China Free Trade Agreement
The Free Trade Agreement between New Zealand and China entered into force on 1 October 2008. It was signed in April 2008 in Beijing, bringing to the end a negotiation process that spanned 15 rounds over three years. Negotiations for a Closer Economic Partnership with Hong Kong are underway. See also the NZ-China Free Trade Agreement website
New Zealand and the Republic of Korea announced the launch of bilateral FTA negotiations in March 2009 during the visit to New Zealand of Korean President Lee Myung-bak. A first round of negotiations took place in June 2009.
"China is a country that has become very important to New Zealand. We want to expand our links further to grow trade and other opportunities between our two countries." Prime Minister John Key.
