New Zealand will continue to invest in trade and economic relations with China: minister

New Zealand’s Minister for Trade and Export Growth Damien O’Connor on Monday expressed confidence in the trade and economic relationship between New Zealand and China.

In a speech at the annual China Business Summit in Auckland, Mr O’Connor said New Zealand would remain committed to investing in trade and economic relations with China.

Despite global trade disruptions, New Zealand’s merchandise exports to China grew by 19.8% in 2021, accounting for 33% of New Zealand’s total merchandise exports.

New Zealand has been active in multiple global trade engagements to help businesses overcome economic challenges, O’Connor said, highlighting the entry into force of its upgraded free trade agreement with China. in April 2022.

“I see first-hand the vibrant and long-standing trade and economic ties between New Zealand and China. The upgrade will modernize our existing agreement from 2008, ensuring it is fit for today’s trading environment. ‘ today,” O’Connor said.

O’Connor also said “We welcome China’s interest” in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as well as the Digital Economy Partnership Agreement (DEPA).

O’Connor said he was proud to see New Zealand companies exploring various business models and business platforms in China and contributing to bilateral trade.

He mentioned the China International Import Expo (CIIE), saying “New Zealand businesses are supported by the New Zealand government, which has been present at every expo since its inception in 2018.”

“The CIIE has been a key platform for showcasing a wide range of New Zealand offerings to the Chinese market. I am delighted that a number of New Zealand companies are participating in this year’s Expo,” said O’Connor.

As the New Zealand border was fully reopened on Sunday, O’Connor said he was eager to welcome Chinese international students and tourists back.

“We will continue to invest in our trade and economic relationship with China, in the hope and expectation that it will continue to benefit the peoples of both countries for a long time to come,” O’Connor said.