The New Zealand Free Trade Agreement (NZCFTA) came into force on 1 October 2008. NZ was the first OECD country to sign a comprehensive free trade agreement with China. Taiwan is our 8th largest export market and 16th largest source of imports. Our dairy products, meat, fruit, seafood and forest products are very popular with Taiwanese and we are their largest supplier of dairy products. Topic: Foreign Trade and International Finance, International Affairs Only New Zealand. Taiwan has been negotiating for about three years with Singapore, its fifth partner in 2012, without saying a word about the outcome. If it were not signed that or other agreements with partners are more important than New Zealand, Taiwanese President Ma Ying-jeou, who launched free trade agreements in 2010 to justify a politically risky economic cooperation agreement with the former enemy, China, would be stabbed. Taiwan needs a free trade agreement to break its competitive slide against South Korea and ASEAN. New Zealand negotiates bilateral and multilateral free trade agreements with the following blocs and countries: But forget the trade figures.
The mere fact that Taiwan signed its first trade pact with a Chinese diplomatic ally makes the agreement a great deal. That`s scenario two. Although we do not have diplomatic relations with Taiwan, we have a lively commercial, economic and cultural relationship. We are both members of APEC, the World Trade Organization (WTO), a number of fisheries agreements and the Asian Development Bank. Taiwan is an important source of imports, tourism and investment and an important export market for New Zealand. Free trade agreements (FTAs) support NZ distributors (exporters and importers) by improving access to partner markets and removing trade barriers (for example. (B) customs procedures) in these markets. New Zealand is a party to several free trade agreements (FAs) around the world.
New Zealand will reduce import duties to 7,510 items and Taiwan will agree with 8,928 articles. Most of the cuts will take effect as soon as lawmakers on both sides approve the pact. The Trans-Pacific Strategic Economic Partnership Agreement (P4) is an agreement between Brunei Darussalam, Chile, Singapore and NZ. The P4 agreement, which represents «Pacific 4,» came into force in 2006. Under P4, most tariffs on goods traded between Member States were immediately abolished, with the remaining tariffs expiring (until 2015 for Brunei Darussalam and 2017 for Chile). The agreement with New Zealand could also allow Taiwan to begin talks on the Trans-Pacific Partnership, a free trade pact that the United States, Japan and other Asian and Latin American countries are studying. China is not involved in the discussions. «New Zealand is a small economy, so growth capacity is limited,» said Shih Hsiao-chi, an economist at SinoPac Securities in Taipei.
«I have a cautious attitude.» The pact was signed Wednesday on a university campus without lawmakers from both sides present – a low-key case that is not expected to provoke China, which claims Taiwan as its own territory. «The acceleration of the trade-opening process will help the (Taiwan) economy maintain its competitiveness and not be marginalized in the context of regional economic cooperation and globalization,» Ma told DBS. Ma would prove his theory if China is silent on the agreement between New Zealand and Taiwan. The Singapore Free Trade Agreement will be swift, followed by the opening of negotiations on new pacts with Taiwan`s 10 trading partners, who feared a reaction from China — an economy without which they can hardly live.