General Review of ANZTEC Confirms Strong Trade Growth

Attachment
File GR Executive Summary.pdf

The New Zealand Commerce and Industry Office (NZCIO) in Taipei and the Taipei Economic and Cultural Office (TECO) in Wellington have today released the executive summary of a General Review of the Agreement between New Zealand and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu.

The Agreement, known as ANZTEC, includes a commitment that the parties conduct a General Review within two years of entry-into force, with a view to furthering its objectives.

The General Review concludes that the ANZTEC has delivered significant benefits to both economies, with New Zealand imports from Chinese Taipei up 10% and New Zealand exports to Chinese Taipei up 22%.

The Review also concluded that the operation and implementation of the Agreement to date has been smooth and without issue. This is a testament to the commitment both sides have shown to making the ANZTEC a success.

New Zealand and Chinese Taipei have committed to ensuring the Agreement evolves and adapts to meet the requirements of a growing trade and economic relationship.

The next General Review of ANZTEC will be undertaken in 2018.

The text of ANZTEC and more information about the agreement is available online: http://nzcio.com/node/247/

 

(Attachment: Executive Summary)

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ANZTEC - Economic Cooperation Agreement

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