2013/11/22
Press Release No. 313
The Republic of China’s Representative to New Zealand Charng Yii-lih and Director Stephen Payton of the New Zealand Commerce and Industry Office exchanged letters on behalf of their respective countries November 20, 2013, confirming that the Taiwan-New Zealand economic cooperation agreement will enter into force December 1. The pact will accord businesses in the two countries Year 1 reduced tariff rates starting January 1, 2014, and allow greater mutual market access, as economic and trade cooperation relations between Taiwan and New Zealand enter a new phase.
The Taiwan-New Zealand economic cooperation agreement was signed July 10 and ratified by the Legislative Yuan October 29. New Zealand is the first member of the Organisation for Economic Co-operation and Development to conclude an economic cooperation pact with the ROC. This carries special significance for future efforts to sign similar agreements with other trade partners. The Ministry of Foreign Affairs strongly affirms this move while the government of New Zealand has highly commended and thanked the ROC government for efficiently and speedily wrapping up legislative ratification of the agreement. The pact is expected to create greater economic and trade benefits for both sides, and to enhance the closeness and stability of the bilateral relationship.
New Zealand is a founding member of what is to become the Trans-Pacific Partnership (TPP) and a member of what is slated to become the Regional Comprehensive Economic Partnership (RCEP). The Taiwan-New Zealand economic cooperation agreement signifies a trend toward further opening up Taiwan’s markets and amply demonstrates the ROC’s determination and diligent efforts to achieve Taiwan’s active integration into the overall regional economy. It also creates conditions conducive to Taiwan’s accession to the TPP and the RCEP, and strengthens its cooperative relations with pertinent countries. (E)