Significant Step Up in Duty Free Access to China in 2012
A further scheduled phase-down of tariffs on New Zealand’s exports to China under the NZ-China Free Trade Agreement took place on 1 January 2012. These phase-downs mark a significant transition point with duty free access extending to 91% of the tariff lines covering bilateral good trades (up from 24% in 2011). This includes duty free access for major New Zealand export lines including infant formula, animal casings and fats, sheepskins and animal hides, yoghurt, fish and seafood (including lobsters), and wine. Duty free access is set to extend even further in 2013 when a total of 97% of tariff lines covering goods exports under the FTA reduce to zero.
40th Anniversary of diplomatic relations
This quantum shift in duty free access coincides with the 40th Anniversary of diplomatic relations between China and New Zealand, and at a time when the trade relationship between the two countries has never been stronger. The value of New Zealand’s exports to China has more than doubled since the FTA entered into force in 2008, and two-way merchandise trade has risen to NZ$13.1 billion (year to September 2011), a growth in bilateral trade of more than 50% over the same period. In simple dollar terms, we now trade with China in less than five hours what we traded in one year in 1972 when diplomatic relations were established with China.
Further information available
For further information on the tariff phasedown schedule and the operation of tariff preferences, please contact the China FTA desk officer, Asia Regional Divison, Ministry of Foreign Affairs and Trade, on (04) 439-8000, or at asia@mfat.govt.nz.
- Page last updated: 12 January 2012
