With the special safeguard measures on milk powder removed as of 1 January 2024, as part of the China-New Zealand Free Trade Agreement, all New Zealand dairy products are now able to enter China duty free and quota free. This marks China’s faithful fulfillment of its commitments of tariff elimination under the FTA, as well the full implementation of China-New Zealand FTA.

The successful implementation of the China-New Zealand FTA serves as a good example of mutual benefits and cooperation between the two sides in the spirit of “striving to be the first”. China signed the FTA with New Zealand in April 2008, which came into force in October the same year. It was China’s first comprehensive bilateral FTA covering trade in goods, services and investment. It was also an FTA China entered into in a world first for any developed country. Based on the success of the FTA, China and New Zealand started the negotiation on upgrading the FTA in November 2016, and signed the Upgrade Protocol on January 26, 2021. On 7 April 2022, the Upgrade to the China-New Zealand FTA entered into force.

Since it was signed and entered into force in 2008, the FTA, as a propeller for bilateral trade, underpinned economic cooperation between the two countries and brought tangible benefits to the two peoples. Total trade in goods between China and New Zealand increased from US$4.4 billion in 2008 to US$25.4 billion in 2022, growing at an average annual rate of 13 percent, while New Zealand’s exports to China have shown an average annual growth rate of 17 percent. For more than 10 years ever since, China has been New Zealand’s largest trading partner, export destination and import source.

In a world first for any developed country to sign a bilateral FTA with China, New Zealand’s economy and kiwi enterprises have fully enjoyed the opportunities and dividends generated by the FTA. By using preferential treatment of the FTA as a unique competitive advantage, New Zealand businesses strived for strenuous cultivation of Chinese market, and built up well established branding image there. New Zealand products as a result have gained more popularity among Chinese consumers. The huge Chinese market has also brought enormous trade, economic and job opportunities for New Zealand, while quality products made, assembled or produced in China at affordable prices have played an important role in keeping a lid on the cost of living for Kiwis. With all New Zealand dairy products now able to enter China duty free, it is expected to inject new impetus into our bilateral practical economic and trade cooperation.

Standing at a promising new start, the two countries will embrace unprecedented new opportunities to deepen our cooperation across the board. This year marks the 10th anniversary of the establishment of the Comprehensive Strategic Partnership between China and New Zealand. China stands ready to join hands in hands with New Zealand, and take this opportunity to tap into potentials of bilateral cooperation with mutual benefits. The two countries could continue to make the most of preferential measures under the FTA and its Upgrade, set off for negotiating on the “negative list” approach on services under the FTA, and further promote trade and investment liberalization and facilitation. China remains committed to working with New Zealand to make the pie of common interests bigger, and to bring greater benefits to the two peoples.