China and New Zealand strengthen their trade and economic ties.
- The Chinese Foreign Minister Wang Yi stated on Monday that negotiations on the negative list of service trade should begin as soon as possible in order to enhance bilateral cooperation to a new level, as reported by Xinhua.
- In 2008, New Zealand became the first developed country to sign a bilateral free trade deal with China. This agreement was later expanded in 2022.
The two countries are working on enhancing their free trade agreement.
The Chinese Foreign Minister Wang Yi stated on Monday that negotiations on the negative list of service trade should commence immediately in order to enhance bilateral cooperation to a new level.
That's according to state news agency Xinhua.
During an official visit to New Zealand, Wang encountered New Zealand Trade Minister Todd McClay.
The upgraded China-New Zealand FTA is a crucial demonstration of their growing partnership in economy, trade, and personnel exchanges, according to McClay, as cited by Xinhua.
In 2008, New Zealand became the first developed country to sign a bilateral free trade deal with China. This agreement was later expanded in 2022.
Wang pledged to strengthen cooperation with New Zealand and emphasized the importance of protecting free trade, stating that China's door to the world will open even wider in the next decade.
In the year ending September 2023, New Zealand's leading trading partner was China, with two-way goods and services trade totaling NZ$38.7 billion ($23.55 billion).
Both ministers also discussed security in the Pacific.
After the meeting, New Zealand's Minister of Foreign Affairs and Deputy Prime Minister emphasized the importance of acknowledging areas of difference, particularly concerning human rights, including the situations in Xinjiang, Hong Kong, and Tibet.
Peters emphasized the common interest of New Zealand and China in a stable and prosperous Indo-Pacific region and expressed worries about the escalating tensions in the South China Sea and Taiwan Strait, as stated in the press release.
Beijing claims almost the entire South China Sea, which is also contested by the Philippines and other nations. Taiwan, on the other hand, has long been considered part of China's territory by Beijing, despite self-ruled Taiwan's objections.
Wang is visiting New Zealand and Australia from March 17 to 21. During his trip, he will hold the seventh China-Australia Foreign and Strategic Dialogue with Australian Foreign Minister Penny Wong.
Asia Economy
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