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The Ministry of Foreign Affairs and Trade is inviting submissions on the Investment Protocol to the Hong Kong, China - New Zealand Closer Economic Partnership.
The closing date for submissions is 30 June 2011. Information on how to make a submission is provided below.
The Hong Kong - New Zealand Closer Economic Partnership Agreement (CEP) entered into force on 1 January 2011. A key outcome of the CEP was a commitment, through a binding exchange of letters, for Hong Kong and New Zealand to conclude a comprehensive Investment Protocol to the CEP (Investment Protocol) within two years of the CEP’s entry into force. The exchange of letters set out the key elements and principles that the negotiations will cover as New Zealand and Hong Kong develop a high quality Investment Protocol.
A constructive round of preliminary talks was held in November 2010 to discuss process, timing and initial views on substantive elements. The discussions affirmed the desire of both New Zealand and Hong Kong to develop an Investment Protocol that encourages and promotes increased investment flows between our economies, supported by a stable framework of rules. It was agreed that a first round of substantive negotiations on the Investment Protocol be held on 4-6 May 2011 in Wellington.
New Zealand and Hong Kong have a strong and growing trade and economic partnership. The Investment Promotion Protection Agreement (IPPA) between New Zealand and Hong Kong (concluded in 1995), the CEP and the Double Taxation Agreement (concluded in 2010) form a solid foundation for this relationship.
Hong Kong is New Zealand's eighth largest investment destination, with investments worth approximately NZ$1.2 billion in the year to June 2009. This represents an increase of approximately 240% from 2005, when total New Zealand investments in Hong Kong were valued at about NZ$353 million. Hong Kong is also a key source of inward investment into New Zealand, ranking as New Zealand’s sixth largest source of foreign investment. Total investment from Hong Kong into New Zealand increased significantly between 2009 and 2010, from NZ$2.9 billion to NZ$3.7 billion. Click here or further information on the New Zealand - Hong Kong relationship.
Both sides held constructive preliminary discussions on the Investment Protocol in November 2010. These talks focused on the process and timing of the negotiations going forward and allowed the Parties to exchange initial views on the potential substantive elements of the Investment Protocol, and information on respective investment policy regimes. The discussions affirmed the desire of both New Zealand and Hong Kong to develop an Investment Protocol that encourages and promotes increased investment flows between our economies based on a stable framework of rules.
As New Zealand begins formal Investment Protocol negotiations with Hong Kong, it is important that negotiators know and understand the views and interests of New Zealanders. Investors, exporters and importers of goods and services, non-government organisations and individuals are invited to make submissions.
The submissions will help shape New Zealand’s negotiating mandate for the negotiations. Negotiators will follow up submissions with direct contact, if appropriate.
In a submission, you may wish to highlight:
Please send your submission to us by 30 June 2011.
Submissions can be sent in three ways:
Email:thomas.haidon@mfat.govt.nz
Post:
Thomas Haidon
Trade Negotiations Division
Ministry of Foreign Affairs and Trade
Private Bag 18901
Wellington
Online: using the online submission form.
Please direct any questions you have about New Zealand’s Investment Protocol negotiations with Hong Kong, or the submissions process, to:
Thomas Haidon
Negotiator
NZ-Hong Kong CEP Investment Protocol
Ministry of Foreign Affairs and Trade
Private Bag 18901
Wellington
Tel: 04 439 8808
Email: thomas.haidon@mfat.govt.nz
