NZ International Business
International trade and investment enable New Zealanders to enjoy the lifestyles they have become accustomed to. New Zealand's economy is highly internationalised with many sectors, especially in agriculture, exporting the larger part of their production.
Trade barriers, like tariffs and quotas, cost our exporters about $2 billion a year. This equates to about $525 for every New Zealander.
New Zealand producers pay millions of dollars a year because other governments do not want New Zealand made products to compete fairly with theirs. By imposing tariffs our goods become more expensive to the consumer.
New Zealand has negotiated or is in the process of concluding a range of free trade agreements or closer economic partnerships which seek to eliminate trade barriers:
- Australia (CER) - completed 1993
- Singapore - completed 2001
- Thailand - completed 2005
- Trans Pacific (Singapore,Brunei and Chile) - completed 2005
- China - underway since 2004
- Malaysia - underway since 2005
- CER/ ASEAN - underway since 2005
- Gulf Co-operation Council: initiated 2006
- Korea and India: official exploratory studies underway
- Hong Kong - suspended since 2003
Updates on these agreements and negotiations are available on the website of the Ministry of Foreign Affairs and Trade
In addition, New Zealand is participating in the multilateral negotiations under the World Trade Organisation (WTO) Doha Development Agenda