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Since the 1990s, New Zealand has pursued free trade agreements as part of international trade policy with a goal (as of 2024) of 90% of exports covered by FTAs by 2030. [5] [6] New Zealand signed bilateral free trade agreements throughout the Asia-Pacific region through the 2000s including with significant trading partners China and the ASEAN bloc.
New Zealand Trade and Enterprise (NZTE) is New Zealand's international business development agency. Its role is to support New Zealand’s economic growth by helping businesses grow bigger, better, faster in international markets. NZTE's strategy supports the Government's target to double the value of New Zealand’s exports by 2033/34.
This agreement removes tariffs on 99.5% of New Zealand exports including meat, butter and cheese. New Zealand Prime Minister Jacinda Ardern described the free trade agreement as a "gold-standard free trade agreement" that would help accelerate the country's economic recovery. [6] This free trade agreement came into force on 31 May 2023. [7] [8]
The department was disestablished in 1988 with responsibility for industrial development shifting to the newly created Ministry of Commerce while overseas trade development was taken over by the Ministry of External Relations and Trade. [2] The Ministry of Commerce came into existence on 1 December 1988. [4]
New Zealand also trades with Taiwan, Hong Kong, Malaysia, Indonesia, Singapore, Thailand, India and the Philippines and this now accounts for around 16% of total exports. [173] New Zealand initiated a free trade agreement with Singapore in September 2000 which was extended in 2005 to include Chile and Brunei and is now known as the P4 agreement.
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The New Zealand–China Free Trade Agreement is a bilateral free trade agreement signed between the People's Republic of China and New Zealand in April 2008. It is the first free trade agreement that China has signed with any developed country, and New Zealand's largest trade deal since the 1983 Closer Economic Relations agreement with Australia. [1]
Free trade agreements of New Zealand (14 P) N. ... New Zealand Dairy Board; New Zealand Trade and Enterprise; O. Overseas Investment Amendment Act 2018;
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