Impact of the new free trade agreements geometry – Trade, free trade and investment – footwear industries
Experts pointed out that due to the relatively small economic scale, from New Zealand free trade agreements in the direct benefits gained will certainly be larger than China, while China was the main benefits is indirect. Signing of the agreement will enable the West to China in the trade fair treatment, in dealing with economic and trade issues with China will focus on efforts to seek mutual benefit and win-win
4 7, New Zealand became the first free trade agreement with China's developed countries.
Chinese Premier Wen Jiabao and New Zealand Prime Minister Helen? Clark witnessed by Chinese Minister of Commerce Chen Deming and New Zealand Trade Minister Phil? Goff in Beijing signed a bilateral free trade agreements. The agreement covers trade in goods, trade in services and investment fields. International Trade and Economic Cooperation Ministry of Commerce Mei Xinyu, an associate research fellow, said in an interview due to the relatively small economies of scale, New Zealand, the agreement obtained from the direct benefits will certainly be larger than China, while China was the main benefit is indirect, that can give other Western countries in a fair trade treatment for China in dealing with trade and economic issues will be focused mainly on the search for mutual benefit and played an exemplary role.
According to the agreement, the new party pledged to January 1, 2016 abolition of all tariffs on imports from China, of which 63.6% of the product from the time the Agreement enters into force from the zero tariff; China promised on January 1st 2019 has canceled 97.2% tariffs on imported products from New Zealand, of which 24.3% of the product from the time the Agreement enters into force from the zero tariff. In addition, the two sides also trade in services was higher than the World Trade Organization made a commitment to, and including the movement of skilled workers, including making specific provisions. According to the New Zealand government in signing a statement issued after the agreement will take effect on October 1.
Particular, China's import tariffs on New Zealand dairy products will be eliminated in the next 12 years, fruit, meat and New Zealand tariffs will be eliminated in nine years, while tariffs on seafood and Apple will cancel within 5 years. In response, New Zealand will be eliminated in the 9-year imports from China of textiles, clothing and footwear tariffs. At present, New Zealand's dairy exports to China tariff is 15%, fruit and meat tariff is 20%; China's exports to New Zealand's textile, clothing and footwear tariffs to 14%.
The New Zealand Government expects the number of Chinese middle class more than 100 million, equivalent to the combined populations of Spain and the United Kingdom. The New Zealand population of only 4 million. As income increases, the Chinese are food and consumer goods cost more, the middle class hope to increase high-protein foods such as beef and mutton consumption, while New Zealand can meet these people on the western food such as meat, butter, cheese and fish growing increasing demand, which will help the Pacific island countries due to record-high interest rates cool domestic demand and a slowing economy. Phil? Goff said last month, is expected at the beginning of the years can only enhance the export of 1% of the free trade agreement will create jobs and promote New Zealand's 104 billion U.S. dollars this body of long-term growth of economies of scale.
Data shows that on February 29 ended the year New Zealand exports to China increased 8.1% to 20 billion Singapore dollars (about 1.6 billion U.S. dollars), China has become the fourth largest export market for New Zealand . New Zealand's global exports of 380 billion Singapore dollars, accounting for 30% of the entire economy. Goff is expected that the agreement would promote New Zealand exports a year add up to 350 000 000 Singapore dollars. Moody's Economy.com economist Matt? Robinson in the day, wrote the report to reporters, the agreement will reduce New Zealand on the brink of recession of the U.S. economy depends. According to the current trends, China will overtake the United States a few years later to become New Zealand's third largest trading partner.
, Of course, increased exports may not be sufficient to enable the New Zealand economy to avoid a record high interest rates on consumer spending this year and the negative impact of real estate. February home sales has dropped to 7-year low, house prices in November last year has been declining. 12 economists by Bloomberg forecast the value of New Zealand's economic growth this year is likely to slow from 3.1% last year to 1.7%. Deutsche Bank chief economist in New Zealand, Gibbs said that while free trade agreements are beneficial to the economy generally, but not solve the economic problems of New Zealand "panacea", "not a question of whether there is demand, but we able to produce more than inflationary. "
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