New Zealand trade minister looks forward to NZ-China FTA upgrade coming into force

New Zealand Minister for Trade and Export Growth Damien O'Connor on Monday expressed his expectation to see the bilateral FTA upgrade between New Zealand and China come into force soon.

Speaking at the China Business Summit 2021, O'Connor reiterated the importance of trade with China, and said that New Zealand's trade relationship with China is complementary and resilient, and both sides benefit from it.

"Although the advent of COVID-19 has disrupted so much, in fact our bilateral goods trade has held up pretty well. New Zealand exports by value were down less than 1 percent in 2020 when compared to 2019, itself a record year for our trade," said O'Connor.

During the COVID-19 pandemic, businesses in China and New Zealand have shown the adaptation and innovation, he said.

"In China, we have seen New Zealand businesses pivoting to e-commerce channels, as a way of ensuring their products get to their customers. And, in the absence of travel, we have seen a real investment by New Zealand businesses in maintaining their connection to market, through digital platforms, local business partners, or the government teams."

"It was excellent to see, for example, so many New Zealand companies participating in the China International Import Expo in Shanghai last November," said O'Connor.

Under the FTA upgrade, New Zealand and China will cooperate more closely in areas such as e-commerce, government procurement and environment protection, he added.