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The New Zealand-China Free Trade Agreement (FTA) was signed in Beijing on 7 April 2008 by Minister of Trade Phil Goff and Chinese Minister of Commerce Chen Deming. Prime Minister Helen Clark and her counterpart Premier Wen Jiabao witnessed the signature at a ceremony at the Great Hall of the People.
The Prime Minister and Minister of Trade were accompanied by Education and Ethnic Affairs Minister Chris Carter and a delegation including around 150 representatives of New Zealand businesses and local government.
The FTA, together with associated labour and environment agreements, is now being considered by a Parliamentary select committee. The FTA is expected to come into force on 1 October 2008, after Parliament has passed implementing legislation and New Zealand and China have exchanged notes confirming that domestic legal procedures have been completed.
The Government’s focus is now on preparations to implement the FTA once it has entered into force. A dedicated FTA website, www.ChinaFTA.govt.nz , went live at the time of signature. The website contains information about the outcomes of the FTA and tools to build market specific capability and help businesses take advantage of the FTA.
In May and June this year a roadshow will travel to Auckland, Hamilton, Wellington, Christchurch and Dunedin, giving people the opportunity to learn about the details of the FTA and also giving advice on doing business in China. For information about this event, including dates, costs and registration forms please visit www.ChinaFTA.govt.nz
For further information contact: James Walker, China FTA Coordinator, MFAT, james.walker@mfat.govt.nz or 04 439 8624
Today’s global security environment means that the export of firearms, military goods, and goods that can be used in the production, development or delivery of nuclear, chemical or biological weapons is closely controlled.
The New Zealand Strategic Goods List sets out goods and technologies which require a permit from the Secretary of Foreign Affairs and Trade before they can be exported. This list has recently been updated to reflect changes in technology and emerging proliferation threats. Changes include the addition of new items, additions and adjustments to existing controls, removal of some controls that are no longer relevant to non-proliferation aims and changes to existing text to improve clarity.
The New Zealand Strategic Goods List is published in full on the Ministry of Foreign Affairs and Trade website. Application forms for permits to export are also available on this website.
Exporters wanting to know whether their goods are subject to strategic export controls should review the most recent New Zealand Strategic Goods List or contact the International Security and Disarmament Division.
For further information contact:
International Security and Disarmament Division, MFAT, exportcontrols@mfat.govt.nz or phone 04 439-822
The first APEC Senior Officials Meeting (SOM 1) for 2008 was held in Lima, Peru, from 19 February to 3 March. Officials from MFAT and several New Zealand agencies attended.
A key focus for New Zealand at SOM 1 was regional economic integration. Work on this, among other things, entails bringing economies closer together and thereby addressing the barriers to trade facing New Zealand companies doing business in APEC member economies. At last year's APEC Leaders' Summit, attended by the Prime Minister, Leaders approved a report with more than 50 recommendations for improving regional economic integration. At SOM 1 this work was consolidated and various economies volunteered to lead individual areas of it.
New Zealand has undertaken to contribute to a study comparing several chapters of Free and Regional Trade Agreements within the APEC region, and to examine the issues that would need to be addressed before negotiations on a Free Trade Agreement of the Asia Pacific (FTAAP) could begin. This work will be reviewed at the meeting of APEC Ministers Responsible for Trade, which takes place in Arequipa, Peru, at the end of May.
Other key issues discussed at SOM 1 were Corporate Social Responsibility, counter-terrorism and economic reform.
For further information contact:
Philip Houlding, Asia Division, MFAT, philip.houlding@mfat.govt.nz or phone 04 439 8887
A Free Trade Agreement (FTA) would bring substantial benefits to Korea and New Zealand according to a recently completed study, announced Trade Minister Phil Goff on 22 February.
Jointly undertaken by the Korean Institute for International Economics (KIEP), the New Zealand Institute for Economic Research (NZIER), and the Australian Centre for International Economics (CIE), the study concluded that an FTA would be in the interests of both countries for economic, political and strategic reasons. An FTA between Korea and New Zealand would reinforce and help protect the healthy bilateral economic relationship as Korea and NZ negotiate trade agreements with other trading partners.
The study was commissioned by the Korean and New Zealand governments as part of the Partnership for the 21st Century. The Partnership was adopted by President Roh and Prime Minister Clark in December 2006 as a framework for advancing the strong bilateral linkages between Korea and New Zealand. A roundtable of officials from both countries will meet in April to consider the study’s findings and report back to Trade Ministers.
New Zealand’s total trade with Korea was worth $2.7 billion in the year till June 2007. The study found that the two economies are among the two most complementary in the Asia-Pacific. It predicts that, for both countries, an FTA would grow bilateral exports, raise global competitiveness in the export of services (the services sector is the greatest contributor to national income in both countries, but makes up a relatively smaller part of exports), and increase welfare and GDP.
For further information contact:
Charles Boulton, Asia Division, MFAT, charles.boulton@mfat.govt.nz, or phone 04 439 8129
Trade Minister Phil Goff launched a New Zealand-Turkey Economic Stocktake on the 31st of March.
Reviewing the outlook for both economies and prospects for further business and economic activity was proposed by Mr Goff when he visited Turkey in 2006, and agreement to conduct a stocktake was one of the outcomes of his visit.
The recently completed stocktake by MFAT draws three main conclusions: both economies have performed well over the last few years; New Zealand and Turkey can exploit their bilateral trade opportunities better; and the removal of trade barriers would greatly assist the expansion of trade.
It identifies that short term areas of greatest potential for New Zealand companies in the Turkish market are likely to be services, high technology and specialised manufacturing. The stocktake is a tool to assist businesses in taking advantage of opportunities to grow the bilateral trade relationship, and is available on the MFAT website.
For further information contact:
Marina Anderson, Middle East & Africa Division, MFAT, marina.anderson@mfat.govt.nz, or 04 439 8091
Trade Minister Hon Phil Goff hosted the United Arab Emirates Minister of Foreign Trade He Sheikha Lubna Al Qasimi for trade talks in Wellington on 5 March.
This was the second session of trade talks with the UAE under the aegis of the NZ/UAE Joint Ministerial Trade and Economic Commission. Discussion in this year’s talks focused on sectors of interest, such as information and communications technology, agricultural goods, education, marine technology, and construction. In addition, the Ministers discussed progress with the negotiations towards a Free Trade Agreement between New Zealand and the Gulf Cooperation Council, of which the UAE is a leading member. The opportunities and considerations around foreign direct investment in New Zealand, particularly in relation to strategic assets, were also addressed in the talks.
The UAE delegation also met with MFAT, New Zealand Trade & Enterprise and the Securities Commission. The Wellington Regional Chamber of Commerce, in conjunction with HSBC, hosted a productive working lunch and panel discussion with the UAE delegation and interested members of the Wellington business community. Interest was high due to the exciting opportunities represented by the UAE’s current economic boom.
The Ministry of Foreign Affairs and Trade would welcome interest or advice on any issues that may be relevant in the context of these ongoing talks from those trading or interested in doing business with the UAE.
For further information contact:
James Munro, Middle East and Africa Division, MFAT, james.munro@mfat.govt.nz, or phone 04 439 8400.
The outcome of the 13th Round of the FTA negotiations between the Association of South East Asian Nations (ASEAN), Australia and New Zealand was better than expected but not as good as hoped.
Taking place in Jakarta between the 4 and 8 March the trade negotiation round saw considerable progress made on the texts for services, investment, and goods in particular. The shape of the deal is beginning to emerge, and there is a new sense of urgency amongst all parties to complete the agreement. That said, considerable work will still be required in all areas to ensure a successful conclusion.
The penultimate round of negotiations is to be held in Brisbane between the 21 and 24 April. As well as further progress on the texts for goods, investment and services, work will be needed on market access. New Zealand will also continue to seek outcomes in labour and environment.
Negotiations are in the closing stages. Consequently any further detailed information from business about any trade and investment barriers which they would like the FTA to address would be welcomed.
For Further information contact:
Luke Leonard, AANZFTA Coordinator, MFAT, luke.leonard@mfat.govt.nz or 04 439 8084
Last year Trade Minister Hon. Phil Goff and Indian Commerce Minister Nath reached agreement in principle to commence a study into the implications of a Free Trade Agreement between India and New Zealand. Since then New Zealand and Indian officials have agreed to the Terms of Reference for an FTA study. It is normal practice for countries contemplating the negotiation of an FTA to begin the process by exploring the issues through a joint study. Decisions on whether to commence negotiations would normally be taken once the study was completed.
The first meeting of the Joint Study Group (JSG) will be held in early April in New Delhi. The second meeting is likely to be held in Wellington in May.
Stephen Payton is the New Zealand Chair of the New Zealand/India JSG. The JSG has been tasked by the respective governments with preparing a report on the possibility of negotiating a Free Trade Agreement (FTA) between India and New Zealand.
It is anticipated that the JSG will meet several times this year, alternating between New Delhi and Wellington. The TOR requires that the JSG produce a joint report with recommendations for consideration by the two governments by the end of 2008.
Companies and stakeholders with current interests or potential interests in the Indian market are being contacted directly by the JSG.
For further information contact:
Stephen Payton, Asia Division, MFAT, Stephen.Payton@mfat.govt.nz or phone 04 439 7907
The 28th of March marked the twenty fifth anniversary of the signing of the Australia-New Zealand Closer Economic Relations Trade Agreement (ANZCERTA, or ‘CER’). Twenty five years on, CER is regarded by the WTO as “the world’s most comprehensive, effective, and mutually compatible free trade agreement.” It is still the most extensive and deepest trade agreement New Zealand has with any bilateral partner.
Both Australian and New Zealand economies have benefited significantly from CER. In 1990, total free trade in goods produced in the two countries was achieved, five years ahead of schedule. This followed free trade in nearly all services in 1989. Since 1983, trans-Tasman trade has grown at an average of nine percent a year, more than the growth rates of both economies combined.
Today, Australia is still New Zealand’s largest market, and New Zealand is Australia’s sixth largest. More Australian businesses export to New Zealand than to any other country, and Australian and New Zealand companies have nearly $100 billion directly invested in each other. We are also each others’ largest source of international visitors.
From its beginnings 25 years ago, the closer economic relationship has widened far beyond that of a traditional trade agreement. Through a suite of agreements and arrangements, CER provides one of the most open trading environments in the world, supported by free movement of people, and the mutual recognition of goods and occupations across the Tasman.
With the barriers at our borders almost entirely cleared away, both governments have been looking behind the border to do away with the unnecessary transaction costs companies can face in doing business across the Tasman. The work includes looking at how to make it easier to register companies and offer securities in both countries; simplify cross-border insolvency proceedings; and the negotiation of an Investment Protocol to CER. It also includes working together to achieve a level of compatibility between emissions trading schemes developed on each side of the Tasman. In Canberra last month, both Prime Ministers reaffirmed that the single economic market agenda is 'core business' for both governments.
For further information contact:
Alice Tipping, Australia Division, MFAT,alice.tipping@mfat.govt.nz or 04 439-8069
Register your contact details and travel plans with us at www.safetravel.govt.nz. The details you provide will help us contact you in an emergency, or to pass on information that we wish to alert you about. The safetravel website also provides travel advisories by region and country, and access to advice and contact details for use in emergencies.
Before you depart New Zealand on business, please remember to take out comprehensive travel insurance which includes medical repatriation to New Zealand. In some countries medical assistance is limited and repatriation to New Zealand for urgent treatment is the only option.
“I’m just travelling to Australia, so I don’t need travel insurance.”
“I’m not travelling to Afghanistan, so you don’t want me to register.”
For emergency consular advice, any time, call +64 4 439 8000 and ask for the Consular Officer.
After setbacks in 2007 the level of activity in the WTO Doha Round negotiations is building.
Key players such as Brazil, the EU, the US and China have recently and publicly signalled their commitment to a successful conclusion to the Round in 2008. But there is still a lot of work to do in the individual negotiating groups before decision texts can be put in front of ministers for resolution of outstanding issues.
In the agriculture negotiating group there has been real progress, though a recent protracted debate over ‘sensitive products’ has been making it difficult to secure agreement on an approach to tariff quota expansion for these products.
In the industrial goods negotiations, a recent meeting in London among representatives from the EU, US and Brazil appears to have identified a possible resolution to key differences on the negotiation text. But it remains to be seen whether that approach can be made to work for the broader negotiating group. Developed countries are also concerned about proposed increases to implementation periods for Doha obligations for developing countries.
It is hoped that many of these differences can be ironed out and revised texts released for both the agriculture and industrial goods negotiation groups by mid April. This would allow ministerial level "horizontal" negotiations, combining discussions on agriculture and industrial goods and possibly other Doha issues, such as services and rules, to begin in early May.
For further information contact: David Dewar, Trade Negotiations Division, MFAT, david.dewar@mfat.govt.nz or 04 439 8121
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