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China-New Zealand partnership growing stronger


03-28-2017 08:00 BJT

Full coverage: Premier Li Visits Australia, New Zealand

(Source: CGTN)

The Premier's visit also comes at the 45th anniversary of the establishment of bilateral relations. Practical cooperation in various fields between China and New Zealand has made remarkable progress, with bilateral trade exceeding 14 billion U.S. dollars last year, up nearly 5 percent year on year.

China has been New Zealand's largest trading partner for four years in a row. Exports of milk powder to China, the largest export market for that commodity, were up 15 million U.S. dollars or 7 percent in February 2017.

Meanwhile, New Zealand has seen more investment from Chinese enterprises in such areas as new agriculture, food processing, finance and aviation. The two countries will also further strengthen collaboration in emerging industries, sci-tech innovation, and electrical products.

In October 2008, New Zealand became the first developed western country to enter into a free trade agreement with China. The FTA outlined a tariff removal plan on New Zealand exports to China, allowing for freer trade. The two countries later also agreed to look into upgrading the FTA.


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