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New Zealand free trade agreements
New Zealand is party to several free trade agreements (FTAs) worldwide.
History
The Economy of New Zealand is a market economy which is greatly dependent on international trade, mainly with Australia, the United States of America, China and Japan. It is strongly dependent on tourism and agricultural exports, and has only small manufacturing and high-tech components. Economic free-market reforms of the last decades have removed many barriers to foreign investment, and the World Bank has praised New Zealand as being the most business-friendly country in the world.[1]
Regional and bilateral free trade agreements have become an important part of New Zealand's international trade policy. New Zealand has used free trade agreements also known as closer economic partnerships to liberalise trade between economies. A Closer Economic Partnership Agreement with Thailand was negotiated in 2004 and implemented in 2005. Negotiations for a Free Trade Agreement with Chile, Brunei and Singapore known as the Trans-Pacific Strategic Economic Partnership were concluded in 2005. Negotiations for further agreements with Malaysia an historic FTA with China was signed in Beijing in April 2008. [2]
Free Trade Agreements in force
Here is a list of free trade agreements of which New Zealand is part. In parentheses, the abbreviation, if applicable, membership if not stated before, and the date of coming into force are to be seen.
Australia: Closer Economic Relations (1983)
China: New Zealand China Free Trade Agreement (2008)
Thailand: New Zealand and Thailand Closer Economic Partnership (2005)
Singapore: New Zealand and Singapore Closer Economic Partnership (2001)
Brunei: Trans-Pacific Strategic Economic Partnership (2005)
Chile: Trans-Pacific Strategic Economic Partnership (2005)- Singapore: Trans-Pacific Strategic Economic Partnership (2005) - Auxiliary to New Zealand and Singapore Closer Economic Partnership
Proposed Free Trade Agreements
New Zealand is negotiating bilateral and multilateral free trade agreements with the following countries and blocs:
United States: New Zealand-United States Free Trade Agreement in association with the Trans-Pacific Strategic Economic Partnership (2008/??)
Association of Southeast Asian Nations - negotiating along with Australia since (2004)
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