New Zealand free trade agreements

  New Zealand

  Current FTA's

  Proposed Bilateral FTA's

  Proposed Regional Bloc FTA's

New Zealand is party to several free trade agreements (FTAs) worldwide.

History

The Economy of New Zealand is a market economy which is greatly dependent on international trade, mainly with Australia, the United States of America, China and Japan. It is strongly dependent on tourism and agricultural exports, and has only small manufacturing and high-tech components. Economic free-market reforms of the last decades have removed many barriers to foreign investment, and the World Bank has praised New Zealand as being the most business-friendly country in the world.

Regional and bilateral free trade agreements have become an important part of New Zealand's international trade policy. New Zealand has used free trade agreements also known as closer economic partnerships to liberalise trade between economies. A Closer Economic Partnership Agreement with Thailand was negotiated in 2004 and implemented in 2005. Negotiations for a Free Trade Agreement with Chile, Brunei and Singapore known as the Trans-Pacific Strategic Economic Partnership were concluded in 2005. Negotiations for further agreements with Malaysia were undertaken in 2006, but failed to reach a conclusion. The historic FTA with China was signed in Beijing in April 2008.^[1]

On 27 February 2009 New Zealand and its close partner Australia signed a Free Trade Agreement with the ASEAN regional block of 10 countries it is estimated that an FTA with ASEAN would boost aggregate GDP across the 12 countries by more than US$48 billion over the period 2000-2020 with an additional US$3.4 billion to New Zealand alone.^[2][3]

Free Trade Agreements in force

Here is a list of free trade agreements of which New Zealand is part. In parentheses, the abbreviation, if applicable, membership if not stated before, and the date of coming into force are to be seen.

•  Australia: Closer Economic Relations (1983)^[4]
•  China: New Zealand China Free Trade Agreement (2008)^[5]
•  Thailand: New Zealand and Thailand Closer Economic Partnership (2005)^[6]
•  Singapore: New Zealand and Singapore Closer Economic Partnership (2001)^[7]
•  Brunei: Trans-Pacific Strategic Economic Partnership (2005)^[8]
•  Chile: Trans-Pacific Strategic Economic Partnership (2005)
•  Singapore: Trans-Pacific Strategic Economic Partnership (2005) - Auxiliary to New Zealand and Singapore Closer Economic Partnership
• Association of Southeast Asian Nations: - negotiating along with Australia since (2004)^[9][10][11]
•  Malaysia: New Zealand - Malaysia Free Trade Agreement announced on 2 June 2009^[12][13]

•  Hong Kong: Hong Kong-New Zealand Closer Economic Partnership (2011) (negotiating since 2001)^[14][15]

Proposed Free Trade Agreements

New Zealand is negotiating bilateral and multilateral free trade agreements with the following countries and blocs:

• The Trans-Pacific Strategic Economic Partnership, a multilateral trade agreement involving 4 countries with which New Zealand has existing trade agreements - Malaysia, Brunei, Chile, Singapore, and Australia - and nations with which New Zealand does not have an existing FTA:
  •  United States: New Zealand-United States Free Trade Agreement ^[8]
  •  Peru: Negotiating alongside the United States, Australia and Vietnam to join the Trans-Pacific Strategic Economic Partnership^[16][17]
  •  Vietnam: Negotiating alongside the United States, Australia and Peru to join the Trans-Pacific Strategic Economic Partnership^[16]
•  Japan: Conducting feasibility study as of (14 May 2008)^[18]

•  South Korea: New Zealand-South Korea Free Trade Agreement^[19]

•  Gulf Cooperation Council: (2006/07)^[20]

•  India India–New Zealand Free Trade Agreement - negotiating since 2007 with the establishment of a JSG (Joint Study Group) looking at the feasibility of an Indian-NZ FTA.^[21]

•  Russia Russia-Kazakhstan-Belarus Free Trade Agreement - negotiating since 2010 ^[22]

•  Kazakhstan Russia-Kazakhstan-Belarus New Zealand Free Trade Agreement - negotiating since 2010 ^[23]

•  Belarus Russia-Kazakhstan-Belarus Free Trade Agreement - negotiating since 2010 ^[24]

See also

• United States free trade agreements

References

1. ^ "Free Trade Agreements | International Trade | Ministry of Economic Development". Med.govt.nz. http://www.med.govt.nz/templates/StandardSummary____32.aspx. Retrieved 26 October 2010. 
2. ^ http://www.mfat.govt.nz/Trade-and-Economic-Relations/Trade-Agreements/Asean/index.php
3. ^ Daley, Gemma (27 February 2009). "Asean, Australia, New Zealand Sign Free-Trade Deal (Update1)". Bloomberg. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aul8rxM98Jg4. Retrieved 26 October 2010. 
4. ^ Australia and New Zealand Closer Economic Relations - NZ Ministry of Foreign Affairs and Trade
5. ^ New Zealand-China Free Trade Agreement - NZ Ministry of Foreign Affairs and Trade
6. ^ Thailand/NZ CEP Agreement - NZ Ministry of Foreign Affairs and Trade
7. ^ Singapore/NZ CEP Agreement - NZ Ministry of Foreign Affairs and Trade
8. ^ ^{a b} Trans-Pacific Strategic Economic Partnership Agreement between Brunei Darussalam, Chile, New Zealand and Singapore - P4
9. ^ ASEAN, Australia and New Zealand Free Trade Agreement - NZ Ministry of Foreign Affairs and Trade
10. ^ New Zealand Ministry of Foreign Affairs and Trade - Inside Page
11. ^ "ASEAN - Australia - New Zealand Free Trade Agreement (AANZFTA) | ASEAN - Australia - New Zealand Free Trade Agreement". Asean.fta.govt.nz. http://www.asean.fta.govt.nz/. Retrieved 26 October 2010. 
12. ^ New Zealand-Malaysia Free Trade Agreement - NZ Ministry of Foreign Affairs and Trade
13. ^ "NZ agrees to free trade deal with Malaysia | BUSINESS News". Tvnz.co.nz. 2 June 2009. http://tvnz.co.nz/business-news/nz-malaysia-free-trade-deal-agreed-2765944. Retrieved 26 October 2010. 
14. ^ Hong Kong-New Zealand Closer Economic Partnership - NZ Ministry of Foreign Affairs and Trade
15. ^ "Hong Kong and New Zealand sign Closer Economic Partnership Agreement (with photos/videos)". Info.gov.hk. 29 March 2010. http://www.info.gov.hk/gia/general/201003/29/P201003290114.htm. Retrieved 26 October 2010. 
16. ^ ^{a b} "Australia To Join Trans-Pacific Partnership Trade Bloc - Min". News.alibaba.com. http://news.alibaba.com/article/detail/asia/100025812-1-australia-join-trans-pacific-partnership-trade.html. Retrieved 26 October 2010. 
17. ^ "The challenges of regional bodies". Taipei Times. 19 October 2010. http://www.taipeitimes.com/News/editorials/archives/2008/12/17/2003431334. Retrieved 26 October 2010. 
18. ^ "High powered push for Japan trade deal - 13 May 2008 - NZ Herald: New Zealand Business, Markets, Currency and Personal Finance News". NZ Herald. 13 May 2008. http://www.nzherald.co.nz/section/3/story.cfm?c_id=3&objectid=10509840. Retrieved 26 October 2010. 
19. ^ "Clark looks to put Korea in trade bag - 16 May 2008 - NZ Herald: New Zealand National news". NZ Herald. 16 May 2008. http://www.nzherald.co.nz/section/1/story.cfm?c_id=1&objectid=10510512. Retrieved 26 October 2010. 
20. ^ New Zealand-Gulf Cooperation Council (GCC) Free Trade Agreement - NZ Ministry of Foreign Affairs and Trade
21. ^ India Free Trade Agreement - New Zealand Ministry of Foreign Affairs and Trade^{[dead link]}
22. ^ "New Zealand eyes Russian Trade - 14 Nov 2010 - NZ Herald: New Zealand National news". NZ Herald. 14 Nov 2010. http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10687518. Retrieved 14 November 2010. 
23. ^ "New Zealand eyes Russian Trade - 14 Nov 2010 - NZ Herald: New Zealand National news". NZ Herald. 14 Nov 2010. http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10687518. Retrieved 14 November 2010. 
24. ^ "New Zealand eyes Russian Trade - 14 Nov 2010 - NZ Herald: New Zealand National news". NZ Herald. 14 Nov 2010. http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10687518. Retrieved 14 November 2010. 

External links

• New Zealand Ministry of Foreign Affairs and Trade - Official site
• Ministry of Economic Development New Zealand - Official site