China, New Zealand agree to start talks on upgrading FTA in late April

Visiting Chinese Premier Li Keqiang (left) and New Zealand Prime Minister Bill English hold a joint press conference in Wellington on March 27, 2017. [Photo: Xinhua]

China and New Zealand have agreed to start talks in April on upgrading a bilateral free trade agreement.

The consensus was reached during Chinese Premier Li Keqiang's ongoing visit to New Zealand, where the upgrading of the FTA that took effect in 2008 has been high on the agenda.

CRI's Fu Yu has more.

At a joint press conference with New Zealand Prime Minister Bill English, Chinese Premier Li Keqiang said upgrading the FTA sends a a positive signal to the world. 

"In particular, we announced that we will carry out the Free Trade Agreement upgrade in negotiations between us. This is the first of its kind that's being done between China and a developed country. This is the highest level bilateral FTA between China and a developed country. This will give a strong boost to trade links between China and New Zealand, and it will send a positive signal to the world as well as to the region, that our two countries are committed to free trade. This is a clear position of our two countries."

China is the number one trading partner of New Zealand. It has also remained the main source of New Zealand's foreign students and tourists. 

New Zealand was the first western country to sign a Free Trade Agreement with China and has remained supportive of China's proposals. 

Prime Minister Bill English says an upgrade will bring China-New Zealand trade to a new level. 

"The FTA with China has been an enormous success. Since coming into force, two-way trade has since 2008 nearly tripled to $23 billion dollars, creating jobs and opportunities for people in both countries. The upgrade will allow us to modernize the FTA to take account of changes in our economic relationship since the FTA came into force."

Premier Li Keqiang says it will not only be mutually beneficial to China and New Zealand, but its influence will expand beyond borders. 

"In the context of a backlash against globalization and free trade, we believe that by strengthening free trade we will have more consultations and avoid frictions and this is conducive to world peace and regional stability." 

The two leaders have announced that negotiations regarding the upgrade will begin next month. Topics of discussion will include market access, customs procedures and e-commerce. 

The two have also witnessed the signing of a memorandum of understanding on the Belt and Road Initiative. 

It makes New Zealand the first western developed country to sign a cooperation agreement with China on the initiative. 

Premier Li Keqiang says China and New Zealand will explore the possibilities of bilateral cooperation in various fields to promote interconnectivity between the two countries.

The New Zealand Prime Minister hails China's commitment and welcomes the opportunities. 

"We've also signed arrangements to enable deeper co-operation on China's significant Belt and Road Initiative and the important and growing area of e-commerce. These further underline the depth and the breadth of the relationship between New Zealand and China, and they will be of mutual benefit." 

The Belt and Road Initiative comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road.

It was proposed by China in 2013, and aims to build a trade and infrastructure network connecting Asia with Europe and Africa along and beyond the ancient land and maritime Silk Road trade routes.

China and New Zealand signed a series of cooperation documents on Monday, including an action plan for cooperation on climate change, and granting new access for New Zealand frozen beef and meat to the Chinese market.

Li Keqiang arrived in Wellington on Sunday for a four-day visit to New Zealand, the first by a Chinese premier in 11 years.

The premier will also pay a visit to Auckland, the country's largest city, for a number of business and cultural exchange activities.

New Zealand is the second and final leg of Li's trip to Oceania. He was earlier in Australia for a five-day visit. 

For CRI, this is Fu Yu.