INDEPENDENT NEWS

Value of working consistently towards free trade

Published: Tue 5 Nov 2019 12:56 PM
Movement in New Zealand’s Asian partnerships shows the value of consistent work towards free trade, says ExportNZ.
Executive Director Catherine Beard says the partial completion of the Regional Comprehensive Economic Partnership (RCEP) and the upgrade of the NZ-China free trade deal bring solid benefits with the promise of more.
"It’s disappointing that India is not in RCEP, as this would have delivered a massive market for New Zealand goods, but the deal is still positive for New Zealand as it helps 15 countries align on trade rules in our region.
"Easier cross-border trade for all the other RCEP countries will make it more compelling for India to join at a later date."
Catherine Beard said the upgrade of the NZ-China free trade deal showed how trade deals can be improved over time.
"The upgrade means more access for NZ’s wood and paper products and faster transport of fresh food exports like seafood into China, while both countries will be held to higher environmental standards.
"There are no changes for dairy in the upgrade, but most dairy tariffs will be gone by 2022, and tariffs on milk powder by 2025, in any case.
"Both RCEP and the NZ-China upgrade show that once you have trade rules in place they can be improved, as political opposition subsides and the benefits become apparent."
ENDS

Next in Business, Science, and Tech

Official Cash Rate unchanged at 1 percent
By: Reserve Bank
Avocados at lowest price in almost three years
By: Statistics New Zealand
Auckland port move: Cabinet ministers deliberate on decision
By: RNZ
Dead rats washed up on beaches sent for toxicology testing
By: RNZ
Reserve Bank predicts further economic slowdown
By: New Zealand National Party
Reserve Bank gets it right by keeping OCR steady
By: ACT New Zealand
XE Data Update - RBNZ Official Cash Rate decision
By: XE Money Transfer
Moving port will cost Government, consumers and environment
By: National Road Carriers
Caution urged over rat carcasses on beach
By: Department of Conservation
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media