China-New Zealand FTA upgrade protocol effective now

11 Apr '22

1 min read

Pic: Shutterstock

The protocol signed on January 26 last year on upgrading the free trade agreement between China and New Zealand came into effect from April 7. The China-New Zealand Free Trade Agreement was signed on April 7, 2008 and implemented on October 1 the same year. The protocol further expands market access for goods, services, investment and other areas.

It further improves trade facilitation and other rules, and also adds four chapters on e-commerce, competition policy, government procurement, environment and trade, which could better meet the needs of modern economic and trade development, according to a press release from the Chinese ministry of commerce.

The protocol has further improved the quality and efficiency of the free-trade relations between China and New Zealand on the basis of the Free Trade Agreement and the Regional Comprehensive Economic Partnership Agreement (RCEP), which is conducive to further deepening pragmatic cooperation between the two countries in various fields, releasing policy dividends from the high-level opening up, promoting liberalization and facilitation of bilateral trade and investment, the release added.

Fibre2Fashion News Desk (DS)

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