As the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting approaches in Peru, New Zealanders are expressing keen interest in the potential for strengthened trade relations with China. Both nations, as active APEC members, have a history of fruitful cooperation, achieving numerous firsts in their bilateral relationship.
Starting this year, New Zealand dairy products can enter the Chinese market duty-free, marking a significant milestone in trade between the two countries. China stands as New Zealand’s largest trading partner, with bilateral trade surpassing $25 billion in 2022. Over the past three years, New Zealand has exported an average of 1.4 million tonnes of dairy products to China annually, valued at approximately $4.83 billion, with milk powder constituting half of these exports. The duty-free access underscores China’s commitment to greater openness and its receptiveness to high-quality goods from New Zealand.
Many New Zealanders are hopeful that the upcoming APEC meeting will further enhance economic ties and open new avenues for cooperation. The duty-free status of dairy products not only boosts New Zealand’s economy but also strengthens the bond between the two nations. As global economic landscapes shift, the APEC summit in Peru provides a crucial platform for dialogue and collaboration, with New Zealanders optimistic about forging deeper connections within the Asia-Pacific region.
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I'm from APEC: What issues are New Zealanders concerned about?
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