NZ GVT China Business Summit

On May 3, NZ GVT gave speeches at the China Business Summit.

  • NZ GVT prime minister Jacinda Ardern and minister for trade and export growth Damien O'Connor spoke at the China Business Summit, on NZ-China trade relations.
  • Speech by Ardern
  • Trade in goods between the two countries has remained resilient despite challenges of Covid; some exports to China declined in early 2020 but have remained strong overall.
  • FTA upgrade signed in Jan. 2021 ensures that rules underpinning the bilateral trade are responsive to changing patterns of commerce, up-to-date, and fit-for-purpose.
  • Said that NZ and China are going to take different perspectives on some important issues, given their different histories, worldviews and political and legal systems.
  • Will continue to work through the issues, and it need not derail the relationship.
  • Expressed hope that China sees it in its own core interests to act in ways that are consistent with its responsibilities as a growing power, including as a UNSC member.
  • NZ is working with the 20 other APEC economies, including China, to ensure economic responses to Covid, in trade and economic policy, are pulling in the same direction.
  • Speech by O'Connor
  • Spoke on FTA upgrade; new goods and services market access and trade facilitation measures, tariff-free access for 99% of the NZD3bn wood and paper trade to China.
  • Said that government agencies will continue to work closely with Chinese counterparts on navigating shifting requirements and expectations relating to risks posed by Covid.
  • The government's trade recovery strategy has focuses on retooling exporter support, reinvigorating international trade architecture, and refreshing key trade relationships.

Regulators NZ GVT
Entity Types Bank; Corp
Reference Sp 5/3/2021; COVID-19
Functions Financial; Risk; Treasury
Countries New Zealand
Products Banking; Corporate
Regions AP
Rule Type Guidance
Rule Date 5/3/2021
Effective Date 5/3/2021
Rule Id 104407
Linked to N/A
Reg. Last Update 5/3/2021
Report Section International

Last substantive update on 05/04/2021