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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.
Under the program, which is essentially a cap-and-trade emissions trading system, SO 2 emissions were reduced by 50% from 1980 levels by 2007. [58] Some experts argue that the cap-and-trade system of SO 2 emissions reduction has reduced the cost of controlling acid rain by as much as 80% versus source-by-source reduction.
The Agreement on Climate Change, Trade and Sustainability (ACCTS) is a proposed trade agreement between Costa Rica, Iceland, New Zealand and Switzerland. The deal will eliminate tariffs on hundreds of environmental goods and services alongside carbon emission reduction commitments. [ 1 ]
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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]
Exceptionally, Henry George's 1886 book Protection or Free Trade was read out loud in full into the Congressional Record by five Democratic congressmen. [97] [98] American economist Tyler Cowen wrote that Protection or Free Trade "remains perhaps the best-argued tract on free trade to this day". [99]
The book concludes that land rent grows as population increases. It also presents the theory of comparative advantage, the theory that free trade between two or more countries can be mutually beneficial, even when one country has an absolute advantage over the other countries in all areas of production.
International trade theory is a sub-field of economics which analyzes the patterns of international trade, its origins, and its welfare implications. International trade policy has been highly controversial since the 18th century. International trade theory and economics itself have developed as means to evaluate the effects of trade policies.