The biggest development from Chinese Premier Li Keqiang's successful visit to New Zealand this week was the commitment to upgrade the China-New Zealand Free Trade Agreement (FTA).
Negotiations will begin next month, with the first round of talks being held on 27 April in Beijing.
The China-New Zealand FTA, a world first for any developed country, was a significant achievement for both partners when it was signed in 2008, and has allowed the relationship between the two countries to grow and deepen.
Other commitments either entered into - or reinforced - while Premier Li was in New Zealand include the signing of:
a Memorandum of Cooperation to begin a six-month trial for
exporting chilled beef, goat and sheep meat to China
a Memorandum of Cooperation agreeing to an export plan for
Chinese onions to New Zealand
a mutual recognition agreement to reduce border clearance costs
for exporters recognised as "trusted" to the importing
nation (this is to take effect on 1 July 2017)
an Arrangement of Cooperation on Electronic Commerce
a Memorandum of Arrangement on Strengthening Cooperation on the
Belt and Road Initiative – China's flagship policy to
drive its global interconnectedness
an Environmental Cooperation Framework between the New Zealand
Institute of Environmental Science and Research Ltd and the Chinese
Research Academy of Environmental Science
a Communique to promote sustainable fisheries governance and to
combat illegal fishing
an Arrangement to strengthen exchanges on international
development cooperation, including in the Pacific region, and
a Health Research Arrangement on blue skies research cooperation
between the New Zealand Health Research Council and China's
Natural Science Foundation.
Also, some environment and agricultural announcements were made, including the commitment to enhancing bilateral climate change cooperation and expertise exchange and an Agricultural Growth Partnership to focus on animal health.
The two countries have also agreed to strengthen cooperation on judicial and law enforcement issues and to fight corruption and transnational crime jointly.
Commitments made on the tourism front include increasing the maximum allowable number of direct flights between the two countries each week from 49 to 59 immediately, five-year business/tourist visas and use of the SmartGate for Chinese passport holders and naming 2019 the China-New Zealand Year of Tourism.
It is encouraging to see the further progress of the two nations' relationship as a result of this visit. Our dedicated China Desk advises Chinese investors and companies entering or active in the New Zealand market through a focused, multi-disciplinary team of M&A, property, finance, commercial and litigation specialists. Our senior partners and Mandarin-speaking lawyers work together to obtain the best possible outcomes for clients.
The information in this article is for informative purposes only and should not be relied on as legal advice. Please contact Chapman Tripp for advice tailored to your situation.