Rt Hon Helen Clark Prime Minister
Hon Jim Sutton Minister for Trade Negotiations

28 May 2004

China-New Zealand trade framework signed

New Zealand and China are today taking the first formal step towards closer trading links with the signing of a Trade and Economic Cooperation Framework at a ceremony in Auckland.

Trade Negotiations Minister Jim Sutton signed for New Zealand. China’s Commerce Minister Bo Xilai, who is visiting on his way to APEC talks in Chile, signed for China.

Helen Clark said Minister Bo was a very senior representative of the Chinese Government.

“I’m pleased that he has arranged to be in New Zealand to sign the framework. This document lays the foundations for future economic and trade cooperation, by committing our countries to begin negotiations next year for a Free Trade Agreement.

“Closer trading ties between New Zealand and China offer substantial benefits to existing New Zealand exporters and will open up new opportunities for us in the primary, secondary and service export sectors.

"China is our fourth largest trading partner, taking $1.38 billion of goods and over $1 billion in services," Helen Clark said.

The TECF will include measures to promote economic cooperation and strengthen ministerial, business and academic dialogue. Once the TECF is signed, New Zealand and China will begin a joint feasibility study on a possible free trade agreement.

Mr Sutton said that study was expected to be completed by the end of the year.

“It will include extensive public consultation and help shape New Zealand’s position for FTA negotiations commencing early in 2005.”

ENDS

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