Free trade agreements of New Zealand explained

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

See also: Economic history of New Zealand. 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its first bilateral free trade agreement in 1965 with the New Zealand-Australia Free Trade Agreement (NAFTA) (later superseded by Closer Economic Relations in 1983).[3] When the United Kingdom eventually joined the European Economic Community in 1973, exceptions for New Zealand allowed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.

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

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

Bilateral agreements

New Zealand-European Union Free Trade Agreement (2024)[9]

Multilateral agreements

Agreements not yet in force

Free trade agreements under negotiation

New Zealand is negotiating bilateral and multilateral free trade agreements with the following blocs and countries:[32]

Abandoned or superseded proposals

New Zealand–United States Free Trade Agreement. Negotiations began in 2008 but were ended in favour of the Trans-Pacific Partnership (which the United States would withdraw from).

See also

External links

Notes and References

  1. Web site: 2024-06-11 . Free Trade Agreements: Mandate for Negotiations with the United Arab Emirates and Revised Mandate for Negotiations with the Gulf Cooperation Council . Ministry of Foreign Affairs and Trade.
  2. Web site: Chris . Nixon . Yeabsley . John . 2010-02-11 . Overseas trade policy – New Zealand, Britain and the EEC . 2024-09-08 . Te Ara – the Encyclopedia of New Zealand.
  3. Picker Jr . S. I. . 1969 . Pacific Partnership: The New Zealand-Australia Free Trade Agreement . Melbourne University Law Review.
  4. Web site: Doing Business 2018; World Bank . doingbusiness.org . 4 April 2018.
  5. Web site: Nixon . Chris . Yeabsley . John . 2010-03-11 . Page 7. Diversification since 1990 . 2024-09-08 . Te Ara – the Encyclopedia of New Zealand.
  6. Web site: 2023-11-21 . New Zealand – Trade Agreements . 2024-09-08 . trade.gov. International Trade Administration of the United States.
  7. http://www.mfat.govt.nz/Trade-and-Economic-Relations/Trade-Agreements/Australia/index.php Australia and New Zealand Closer Economic Relations – NZ Ministry of Foreign Affairs and Trade
  8. http://www.mfat.govt.nz/Trade-and-Economic-Relations/Trade-Agreements/China/index.php New Zealand-China Free Trade Agreement – NZ Ministry of Foreign Affairs and Trade
  9. Web site: New Zealand-European Union Free Trade Agreement – New Zealand Customs Service . 2024-05-03 . customs.govt.nz.
  10. http://www.mfat.govt.nz/Trade-and-Economic-Relations/2-Trade-Relationships-and-Agreements/Hong-Kong/index.php New Zealand-Hong Kong, China Closer Economic Partnership
  11. Web site: Hong Kong and New Zealand sign Closer Economic Partnership Agreement (with photos/videos) . Info.gov.hk . 29 March 2010 . 26 October 2010.
  12. http://www.mfat.govt.nz/Trade-and-Economic-Relations/Trade-Agreements/Malaysia/index.php New Zealand-Malaysia Free Trade Agreement – NZ Ministry of Foreign Affairs and Trade
  13. Web site: NZ agrees to free trade deal with Malaysia | BUSINESS News . Tvnz.co.nz . 2 June 2009 . 26 October 2010.
  14. http://www.mfat.govt.nz/Trade-and-Economic-Relations/Trade-Agreements/Singapore/index.php Singapore/NZ CEP Agreement – NZ Ministry of Foreign Affairs and Trade
  15. Web site: NZ-Korea Free Trade Agreement . New Zealand Foreign Affairs & Trade . 12 August 2020.
  16. http://www.nzcio.com/node/249/view Agreement between New Zealand and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu on Economic Cooperation (ANZTEC)
  17. Tim Groser (20 November 2013). Minister welcomes ANZTEC entry into force. New Zealand Government.
  18. http://www.mfat.govt.nz/Trade-and-Economic-Relations/Trade-Agreements/Thailand/index.php Thailand/NZ CEP Agreement – NZ Ministry of Foreign Affairs and Trade
  19. Web site: New Zealand Ministry of Foreign Affairs and Trade. New Zealand-United Kingdom Free Trade Agreement. 2022-08-25. New Zealand Ministry of Foreign Affairs and Trade.
  20. Web site: 5 May 2023. Landmark post-Brexit trade deals to come into force this month driving economic growth across the UK. Gov.UK.
  21. http://www.mfat.govt.nz/Trade-and-Economic-Relations/Trade-Agreements/Trans-Pacific/index.php Trans-Pacific Strategic Economic Partnership Agreement between Brunei Darussalam, Chile, New Zealand and Singapore – P4
  22. Web site: ASEAN Australia New Zealand FTA (AANZFTA). 22 January 2019.
  23. Web site: Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). 22 January 2019.
  24. Web site: PACER Plus . 19 August 2024.
  25. Web site: Regional Comprehensive Economic Partnership (RCEP). 2 March 2022.
  26. Web site: What is the Agreement on Climate Change, Trade and Sustainability (ACCTS)?. Ministry of Foreign Affairs and Trade. 29 July 2024. https://web.archive.org/web/20240705093748/https://www.mfat.govt.nz/en/trade/free-trade-agreements/free-trade-agreements-concluded-but-not-in-force/agreement-on-climate-change-trade-and-sustainability-accts/what-is-the-agreement-on-climate-change-trade-and-sustainability-accts. 5 July 2024. live.
  27. Web site: Pal. Alasdair. New Zealand signs environmental trade deal with Switzerland, Costa Rica and Iceland. 2 July 2024. Reuters. 29 July 2024. https://web.archive.org/web/20240709110435/https://www.reuters.com/world/europe/new-zealand-signs-environmental-trade-deal-with-switzerland-costa-rica-iceland-2024-07-02/. 9 July 2024. live.
  28. News: 26 September 2024 . New Zealand, United Arab Emirates reach trade pact . https://web.archive.org/web/20240927020401/https://www.reuters.com/world/new-zealand-united-arab-emirates-reach-trade-pact-2024-09-25/ . 27 September 2024 . 2 November 2024 . Reuters.
  29. Web site: NZ – Gulf Cooperation Council FTA . 6 October 2018 . New Zealand Ministry of Foreign Affairs and Trade.
  30. Web site: Trade . New Zealand Ministry of Foreign Affairs and . Overview . 2024-09-08 . New Zealand Ministry of Foreign Affairs and Trade.
  31. News: 1 November 2024 . New Zealand reaches trade deal with Gulf states . 2 November 2024 . Reuters.
  32. Web site: Trade . New Zealand Ministry of Foreign Affairs and . Free trade agreements under negotiation . 2024-09-08 . New Zealand Ministry of Foreign Affairs and Trade.
  33. Web site: 30 November 2011. Pacific Alliance. dead. https://web.archive.org/web/20210308210010/https://www.mfat.govt.nz/en/countries-and-regions/latin-america/pacific-alliance/. 8 March 2021. 22 May 2019.
  34. http://www.mfat.govt.nz/Features/India-free-trade-agreement.php India Free Trade Agreement – New Zealand Ministry of Foreign Affairs and Trade
  35. Web site: Trade . New Zealand Ministry of Foreign Affairs and . Timeline for negotiations and updates . 2024-09-08 . New Zealand Ministry of Foreign Affairs and Trade.
  36. Web site: 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 . 26 October 2010.
  37. Web site: The Re-freshed Latin America Strategy: One Year Later Annual Report for the 2010-11 Financial Year. New Zealand Ministry of Foreign Affairs and Trade. 30 November 2011 . 10 April 2012.
  38. Web site: Nova Zelândia quer tratado de livre comércio com Mercosul. Senado Brasileiro. 25 May 2011. 16 November 2011. dead. https://archive.today/20130422213755/http://www.senado.gov.br/noticias/OpiniaoPublica/inc/senamidia/notSenamidia.asp?ud=20110524&datNoticia=20110524&codNoticia=557851&nomeOrgao=&nomeJornal=Valor+Econ%C3%B4mico&codOrgao=47&tipPagina=1. 22 April 2013.
  39. Web site: New Zealand business and parliamentary connections in Latin America to be strengthened. New Zealand Parliament. 23 May 2011 . 16 November 2011.
  40. Web site: New Zealand eyes Russian Trade – 14 Nov 2010 – NZ Herald: New Zealand National news . The New Zealand Herald. 14 November 2010 . 14 November 2010.
  41. Web site: Russia – Belarus – Kazakhstan Customs Union FTA. New Zealand Ministry of Foreign Affairs and Trade. 6 October 2018.

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