Our future is in being an open, outward-facing country.
We won’t get richer selling things to 4.5 million New Zealanders. But we could by selling to 4.5 billion people overseas, and that’s why we’re working on building and developing strong and enduring global relationships.
This will help us continue to drive economic growth for the benefit of all New Zealanders, and ensure we can continue to support world-class public services like health and education.
We will continue to look for opportunities that benefit all New Zealanders. It’s important that we grasp those opportunities, whether they’re on our backdoor step in Asia and the Pacific or further afield.
Our vision for New Zealand is a more open, more confident, more integrated, and more prosperous country that plays its part on the international stage.
Trade deals under National
ASEAN Nations 2012
- Elimination of tariffs on 99 per cent of exports to key ASEAN markets by 2020. This represented about $50 million of annual duty savings based on levels of trade when the Agreement was signed.
Malaysia-NZ Free Trade Agreement 2010
- Tariffs eliminated on 99.5 per cent of New Zealand’s current exports – this represented about $10 million in annual savings for exporters at the time of signing the free trade agreement.
- Investment between the countries has grown by 56 per cent since 2009 to more than $500 million in 2013.
Hong Kong-NZ Closer Economic Partnership (CEP) 2011
- The CEP provides greater certainty of access into the Hong Kong services market, which makes up approximately 90 per cent of GDP in Hong Kong, including in private education, business services, environmental services and logistics.
Economic Cooperation Agreement with Chinese Taipei 2013
- Goods and services exports to Chinese Taipei were $954 million in 2012 - a year before the Economic Cooperation Agreement commenced. Since then, exports have increased by 33 per cent, rising to $1.3 billion in the year ended December 2015.
Korea-NZ Free Trade Agreement 2015
- Existing tariffs were eliminated on $793.7 million (or around 48 per cent) of exports as soon as the Agreement commenced. This represents significant savings for exporters of approximately $65 million in duties in the first year alone.
Trans Pacific Partnership
New Zealand signed the Trans-Pacific Partnership in Auckland on 4 February 2016, along with 11 other countries.
It is now going through the New Zealand Parliamentary process before it can be ratified.
The Trans-Pacific Partnership is the biggest and most significant free trade agreement in our history. It will open up access to 800 million people around the world and, on current trade volumes, will save our exporters around $274 million a year in tariffs once it is fully implemented.
Regardless of how future events unfold in Europe, we remain on track to negotiate a free trade agreement with the European Union (EU), and will work closely with the United Kingdom on trade matters.
We will continue to negotiate on the Regional Comprehensive Economic Partnership (RCEP), a proposed deal between 16 countries, including New Zealand and six of our top 10 trading partners – China, Japan, Korea, India, Australia and Malaysia. These 16 countries have a combined population of more than 3 billion people and represent around 27 per cent of global economy.