Free trade lifts exports to Taiwan
The dropping of tariffs on virtually all dairy products, apples, cherries and wine exported to Taiwan has contributed to a 20% rise in two-way trade.
The dropping of tariffs on virtually all dairy products, apples, cherries and wine exported to Taiwan has contributed to a 20% rise in two-way trade.
The economic cooperation agreement between New Zealand and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu (Anztec) is a year old. In particular, apple exports have tripled from $13 million to $39 million.
New Zealand’s total exports to Taiwan were up by $150 million to $884 million from December 2013 to September this year.
“Over 69% of New Zealand’s exports to Chinese Taipei are now tariff free, representing savings of around $78.4 million to date,” Trade Minister Tim Groser says.
Anztec will see the complete removal of tariffs on New Zealand’s exports to Taiwan, with 99% eliminated in four years.
In the year ending September 2014, Taiwan was New Zealand’s seventh largest goods export market worth more than $1 billion. Over the same period, imports from Taiwan were up 12% to $661 million.
Nevil Gibson for NBR Food Industry Week
Thu, 11 Dec 2014
Thu, 11 Dec 2014
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Free trade lifts exports to Taiwan
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