ANZTEC will see New Zealand as the only country in the world to have full free trade with China, Hong Kong and Taiwan.  According to Catherine Beard, Executive Director of Export NZ, “It is not just a good trade agreement, it is a major foreign policy triumph also. It is concrete evidence of the excellent political relationship with China. The fact that the deal has been welcomed, and New Zealand’s handling of the negotiations praised formally in public by the Chinese Government, demonstrates this.” 

The ANZTEC agreement should be excellent news for New Zealand exporters.  Most apples, cherries, wine, dairy products, lobsters and some others go duty free on entry into force (most likely on 1 January 2014). Beef is fully liberalised after two years, kiwifruit after three years and sheepmeat after four. Over 98% of NZ exports to Taiwan will be duty free after four years. After eight years, 99.5% of exports will be duty free; after 12 years, 100% of NZ exports will be duty free.

Export NZ says it understands that the agreement will lead to a $600 million plus increase in New Zealand’s GDP. Currently, Taiwan is New Zealand’s eighth largest goods export market.

The agreement is being considered by the Foreign Affairs, Defence and Trade Select Committee in Parliament.  Full details of the agreement can be found on www.nzcio.com. Export NZ encourages its members to make submissions to the committee.