Free trade agreements of New Zealand
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| New Zealand Free trade agreements in force Free trade agreements concluded but not in force |
New Zealand is party to 14 free trade agreements (FTAs) worldwide. Together they accounted for over 70% of New Zealand's trade in 2023.[1]
History
[edit]Prior to the mid-twentieth century, New Zealand's trade was dominated by the United Kingdom which provided preferential trade quotas to her former colony.[2] As the United Kingdom attempted to join the European Economic Community in the 1960s and move away from trade with former colonies, New Zealand sought to diversify international trade. Following this, New Zealand signed its first bilateral free trade agreement in 1965 with the New Zealand-Australia Free Trade Agreement (NAFTA) (later superseded by Closer Economic Relations in 1983).[3] When the United Kingdom eventually joined the European Economic Community in 1973, exceptions for New Zealand allowed the United Kingdom's preferential trade offerings to be phased out until the 1990s.[2]
Economic liberalisation in the 1970s made New Zealand into a market economy dependent on international trade especially in tourism and agricultural sectors. New Zealand has since welcomed foreign investment and has been praised as one of the most business-friendly countries in the world.[4]
Since the 1990s, New Zealand has pursued free trade agreements as part of international trade policy with a goal (as of 2024) of 90% of exports covered by FTAs by 2030.[5][6] New Zealand signed bilateral free trade agreements throughout the Asia-Pacific region through the 2000s including with significant trading partners China and the ASEAN bloc. Free trade agreements have expanded in the 2010s and 2020s with New Zealand's participation in wide multilateral FTAs including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership.
Free trade agreements in force
[edit]New Zealand has bilateral and multilateral free trade agreements with the following blocs and countries:
Bilateral agreements
[edit]
Australia: Closer Economic Relations (1983)[7]
China: New Zealand–China Free Trade Agreement (2008)[8]
European Union: New Zealand-European Union Free Trade Agreement (2024)[9]
Hong Kong: Hong Kong–New Zealand Closer Economic Partnership Agreement (2011)[10][11]
Malaysia: Malaysia–New Zealand Free Trade Agreement (2009)[12][13]
Singapore: New Zealand and Singapore Closer Economic Partnership (2001)[14]
South Korea: NZ-Korea Free Trade Agreement (2015)[15]
Taiwan: Agreement between New Zealand and the Separate Customs Territory of Taiwan, Penghu, Kinmen, and Matsu on Economic Cooperation (2013)[16][17]
Thailand: New Zealand and Thailand Closer Economic Partnership (2005)[18]
United Kingdom: New Zealand–United Kingdom Free Trade Agreement (2023)[19][20]
Multilateral agreements
[edit]- Trans-Pacific Strategic Economic Partnership (TPSEP) (2005),[21] with:
- ASEAN Australia NZ FTA (2009),[22] with:
- Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) (2018),[23] with:
- PACER Plus (2020),[24] with:
- Regional Comprehensive Economic Partnership (RCEP) (2022),[25] with:
Agreements not yet in force
[edit]- Agreement on Climate Change, Trade and Sustainability (ACCTS), negotiations concluded in 2024 but have not yet been signed,[26][27] with:
United Arab Emirates: New Zealand-United Arab Emirates Closer Economic Partnership Agreement (NZ-UAE CEPA) (2024)[28]
Gulf Cooperation Council: Negotiations began in 2007 and concluded in 2009 but never signed.[29] Agreed to resume negotiating in 2022.[30] Signed in October 2024.[31]
Free trade agreements under negotiation
[edit]New Zealand is negotiating bilateral and multilateral free trade agreements with the following blocs and countries:[32]
Pacific Alliance: Free trade agreement negotiating since 2017.[33]
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.[34]- Indo-Pacific Economic Framework for Prosperity, under negotiation since 2021[35] with:
Abandoned or superseded proposals
[edit]- Trans-Pacific Partnership (TPP): signed and ratified but never entered into force, superseded by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
Japan: Conducted a feasibility study in 2008.[36] Superseded as Japan joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
Mercosur: New Zealand-Mercosur Free Trade Agreement. Negotiations began in 2010[37][38][39] and ended without a deal before 2024.[32]
Russia, 
Belarus and 
Kazakhstan: Russia-Kazakhstan-Belarus Free Trade Agreement – negotiations began in 2010[40] and were later suspended.[41]
United States: New Zealand–United States Free Trade Agreement.[21] Negotiations began in 2008 but were ended in favour of the Trans-Pacific Partnership (which the United States would withdraw from).
See also
[edit]- List of the largest trading partners of New Zealand
- Economy of New Zealand
- Free trade agreements of Australia
- Free trade agreements of the United Kingdom
- Free trade agreements of the United States
References
[edit]- ^ "Free Trade Agreements: Mandate for Negotiations with the United Arab Emirates and Revised Mandate for Negotiations with the Gulf Cooperation Council" (PDF). Ministry of Foreign Affairs and Trade. 11 June 2024.
- ^ a b Chris, Nixon; Yeabsley, John (11 February 2010). "Overseas trade policy – New Zealand, Britain and the EEC". Te Ara – the Encyclopedia of New Zealand. Retrieved 8 September 2024.
- ^ Picker Jr, S. I. (1969). "Pacific Partnership: The New Zealand-Australia Free Trade Agreement". Melbourne University Law Review.
- ^ "Doing Business 2018; World Bank" (PDF). doingbusiness.org. Retrieved 4 April 2018.
- ^ Nixon, Chris; Yeabsley, John (11 March 2010). "Page 7. Diversification since 1990". Te Ara – the Encyclopedia of New Zealand. Retrieved 8 September 2024.
- ^ "New Zealand – Trade Agreements". trade.gov. International Trade Administration of the United States. 21 November 2023. Retrieved 8 September 2024.
- ^ Australia and New Zealand Closer Economic Relations – NZ Ministry of Foreign Affairs and Trade
- ^ New Zealand-China Free Trade Agreement – NZ Ministry of Foreign Affairs and Trade
- ^ "New Zealand-European Union Free Trade Agreement – New Zealand Customs Service". customs.govt.nz. Retrieved 3 May 2024.
- ^ New Zealand-Hong Kong, China Closer Economic Partnership
- ^ "Hong Kong and New Zealand sign Closer Economic Partnership Agreement (with photos/videos)". Info.gov.hk. 29 March 2010. Retrieved 26 October 2010.
- ^ New Zealand-Malaysia Free Trade Agreement – NZ Ministry of Foreign Affairs and Trade
- ^ "NZ agrees to free trade deal with Malaysia | BUSINESS News". Tvnz.co.nz. 2 June 2009. Retrieved 26 October 2010.
- ^ Singapore/NZ CEP Agreement – NZ Ministry of Foreign Affairs and Trade
- ^ "NZ-Korea Free Trade Agreement". New Zealand Foreign Affairs & Trade. Retrieved 12 August 2020.
- ^ Agreement between New Zealand and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu on Economic Cooperation (ANZTEC) Archived 24 December 2013 at the Wayback Machine. New Zealand Commerce and Industry Office. Retrieved 23 December 2013.
- ^ Tim Groser (20 November 2013). Minister welcomes ANZTEC entry into force. New Zealand Government.
- ^ Thailand/NZ CEP Agreement – NZ Ministry of Foreign Affairs and Trade
- ^ New Zealand Ministry of Foreign Affairs and Trade. "New Zealand-United Kingdom Free Trade Agreement". New Zealand Ministry of Foreign Affairs and Trade. Retrieved 25 August 2022.
- ^ "Landmark post-Brexit trade deals to come into force this month driving economic growth across the UK". Gov.UK. 5 May 2023.
- ^ a b Trans-Pacific Strategic Economic Partnership Agreement between Brunei Darussalam, Chile, New Zealand and Singapore – P4
- ^ "ASEAN Australia New Zealand FTA (AANZFTA)". Retrieved 22 January 2019.
- ^ "Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)". Retrieved 22 January 2019.
- ^ "PACER Plus". Retrieved 19 August 2024.
- ^ "Regional Comprehensive Economic Partnership (RCEP)". Retrieved 2 March 2022.
- ^ "What is the Agreement on Climate Change, Trade and Sustainability (ACCTS)?". Ministry of Foreign Affairs and Trade. Archived from the original on 5 July 2024. Retrieved 29 July 2024.
- ^ Pal, Alasdair (2 July 2024). "New Zealand signs environmental trade deal with Switzerland, Costa Rica and Iceland". Reuters. Archived from the original on 9 July 2024. Retrieved 29 July 2024.
- ^ "New Zealand, United Arab Emirates reach trade pact". Reuters. 26 September 2024. Archived from the original on 27 September 2024. Retrieved 2 November 2024.
- ^ "NZ – Gulf Cooperation Council FTA". New Zealand Ministry of Foreign Affairs and Trade. Retrieved 6 October 2018.
- ^ Trade, New Zealand Ministry of Foreign Affairs and. "Overview". New Zealand Ministry of Foreign Affairs and Trade. Retrieved 8 September 2024.
- ^ "New Zealand reaches trade deal with Gulf states". Reuters. 1 November 2024. Retrieved 2 November 2024.
- ^ a b Trade, New Zealand Ministry of Foreign Affairs and. "Free trade agreements under negotiation". New Zealand Ministry of Foreign Affairs and Trade. Retrieved 8 September 2024.
- ^ "Pacific Alliance". 30 November 2011. Archived from the original on 8 March 2021. Retrieved 22 May 2019.
- ^ India Free Trade Agreement – New Zealand Ministry of Foreign Affairs and Trade Archived 5 October 2008 at the Wayback Machine
- ^ Trade, New Zealand Ministry of Foreign Affairs and. "Timeline for negotiations and updates". New Zealand Ministry of Foreign Affairs and Trade. Retrieved 8 September 2024.
- ^ "High powered push for Japan trade deal – 13 May 2008 – NZ Herald: New Zealand Business, Markets, Currency and Personal Finance News". The New Zealand Herald. 13 May 2008. Retrieved 26 October 2010.
- ^ "The Re-freshed Latin America Strategy: One Year Later Annual Report for the 2010-11 Financial Year" (PDF). New Zealand Ministry of Foreign Affairs and Trade. 30 November 2011. Retrieved 10 April 2012.
- ^ "Nova Zelândia quer tratado de livre comércio com Mercosul". Senado Brasileiro. 25 May 2011. Archived from the original on 22 April 2013. Retrieved 16 November 2011.
- ^ "New Zealand business and parliamentary connections in Latin America to be strengthened". New Zealand Parliament. 23 May 2011. Retrieved 16 November 2011.
- ^ "New Zealand eyes Russian Trade – 14 Nov 2010 – NZ Herald: New Zealand National news". The New Zealand Herald. 14 November 2010. Retrieved 14 November 2010.
- ^ "Russia – Belarus – Kazakhstan Customs Union FTA". New Zealand Ministry of Foreign Affairs and Trade. Retrieved 6 October 2018.
External links
[edit]- New Zealand Ministry of Foreign Affairs and Trade – Official site
- Ministry of Economic Development New Zealand – Official site
- Tariff Finder, Ministry of Foreign Affarirs and Trade – Tool to find export and import tariffs
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