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Trade ties on the up thanks to FTA boost
The upgraded free trade agreement between China and New Zealand will generate fresh momentum for their trade ties in the coming years, boosting the trade in goods and services and regional connectivity activities.
Many opportunities occurred after the two sides inked an upgrade to their 12-year-old bilateral FTA in late January, on the basis of the Regional Comprehensive Economic Partnership that they signed along with 13 other countries in the region in November.
Under the upgraded agreement, China and New Zealand have committed to reinforcing cooperation in areas including e-commerce, competition rules, government procurement, and their trade in goods, said Yu Benlin, director-general of the Department of International Economic and Trade Affairs at the Ministry of Commerce.