New Zealand Taiwan Trade Agreement

The importer may choose by the exporter or manufacturer the form of proof of origin it is seeking, provided it contains all the necessary data elements. A guide is available to merchants if they wish. For New Zealand, it builds on the benefits of its free trade agreement with China and confirms New Zealand`s diplomatic attention and agility. The long formal title of the agreement – the Economic Cooperation Agreement between New Zealand and the separate customs territory of Taiwan, Penghu, Kinmen and Matsu – suggests the flexibility New Zealand needs to conclude the agreement with Taiwan under New Zealand`s “Single China” policy. For Singapore and others in the region negotiating or considering a free trade agreement with Taiwan, the NZ-Taiwan agreement is a challenge to conclude their own negotiations. Taiwan`s high-tech and petrochemical exporters are expected to see some benefits, as tariffs are falling under the agreement. Manufactured goods account for 29% of Taiwan`s exports to New Zealand, followed by refined fuels of 26% and transportation of 23%. Taiwanese restaurants will also pay less for New Zealand agricultural products. Imports from New Zealand are mainly food products, which account for a total of 76% of all vessels bound for Taiwan. (New Zealand beef has been popular in Taipei restaurants for the past two years, fearing sick imports from the United States.) According to my theory, the Communist leaders will allow their more than 170 diplomatic allies to negotiate agreements with Taipei. Beijing had previously said no because it claimed Taiwan as part of its lawn and tried to stifle the island`s international influence. According to the first general assessment, which was completed in November 2015, ANZTEC brought considerable benefits to both economies: New Zealand imports from Taiwan increased by 10% and New Zealand by 22%. The review also concluded that the implementation and implementation of the agreement was smooth and smooth.

This demonstrates the commitment of both parties to make ANZTEC a success. Taiwan and New Zealand are committed to ensuring that the agreement evolves and adapts to the demands of growing trade and economic relations. Taiwan`s main exports include electronic components and parts, machinery and petrochemicals; New Zealand consists mainly of dairy products, fruit and lamb meat. According to the ROC Ministry of Economy, ANZTEC will increase Taiwan`s gross domestic product by 0.076% per year (approximately USD 303 million), create 6,250 jobs and increase annual output from domestic manufacturing and services by NT30 billion and NT 9 billion respectively. ROC statistics show that trade between Taiwan and Zealand reached $1.21 billion in 2012. (Taiwan, New Zealand Ink ANZTEC Agreement, supra.) Taiwan and New Zealand signed a trade pact on Wednesday that isolated Taipei`s first with an un-allied nation.

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