New Zealand and China Launch Negotiations to Boost Services Trade

“The Government is committed to facilitating opportunities for services exporters to bolster New Zealand’s economy,” stated Mr. McClay.

Today, Trade Minister Todd McClay and China’s Commerce Minister Wang Wentao jointly announced the official commencement of negotiations on Services Trade between New Zealand and China.

“The Government is committed to facilitating opportunities for services exporters to bolster New Zealand’s economy,” stated Mr. McClay.

This initiative is a part of the 2022 New Zealand-China Free Trade Agreement Upgrade Protocol, which outlines mutual efforts to advance trade relations between the two nations.

“The New Zealand-China trading relationship is pivotal, valued at over $38 billion in two-way trade,” McClay highlighted.

He further emphasized the positive trend in New Zealand’s services exports to China, noting a total of $2.33 billion in 2023.

“These negotiations aim to modernize the rules governing services trade between our countries. The potential for New Zealand services companies in China is substantial, and today’s launch marks a significant stride towards realizing these opportunities,” McClay affirmed.

Negotiations will concentrate on updating and enhancing the framework for services trade, aiming to create a conducive environment for increased collaboration and economic growth between New Zealand and China.

The launch of these negotiations underscores both nations’ commitment to strengthening their economic ties and fostering a mutually beneficial trading environment in the services sector.