New Zealand ends talks with China
Reports indicate that New Zealand has agreed a free trade deal with China following formal discussions between the two countries. According to New Zealand trade minister, Phil Goff, 15 rounds of negotiations ironed out any outstanding issues and a deal is now to be finalised and put before the Cabinet for approval. It is anticipated that the pact will be signed by April.
As a result, New Zealand will lift existing tariffs on Chinese textiles and footwear items, while China will gradually phase out tariffs on New Zealand’s agricultural produce. According to reports, bilateral trade is worth almost $5 billion a year.
Objections have been raised by New Zealand’s Green party, which has called the treatment of many Chinese labourers into question.
