What is ANZTEC?

What is ANZTEC?

The Agreement between New Zealand and the Separate Customs Territory of Taiwan, Penghu, Kinmen, and Matsu on Economic Cooperation (ANZTEC) is a high quality, comprehensive trade agreement that will liberalise and facilitate trade in goods, services and investment between the two markets. ANZTEC delivers preferential tariff access that gives New Zealand exporters a key competitive advantage in an important ‘affluent-Asia’ market of 23 million people. It also includes innovative provisions on film and television, indigenous cooperation and air links that will expand existing creative, cultural and people-to-people links.
The key elements of ANZTEC include:

Liberalised trade in goods
The removal over time of tariffs on 100 percent of New Zealand’s current exports to Chinese Taipei. Once the agreement is fully implemented, this will equate to an estimated annual duty saving of $75.8 million based on current trade.
Rules to govern trade
Robust rules which will allow New Zealand exporters to effectively take advantage of the preferential conditions offered under ANZTEC for trade in goods, without undue compliance costs.
Liberalised trade in services
New Zealand service providers will benefit from improved commitments from Chinese Taipei in services, particularly in education and air transport-related services.

Movement of people
Provisions to better facilitate the movement of business people between New Zealand and Chinese Taipei.

Enhanced facilitation and protection for investment
A transparent set of rules based on international best practice intended to facilitate investment flows and to provide for the balanced protection of investment. It further establishes a framework to ensure that investors of both economies benefit from future liberalisation in specific areas.
Measures to improve business flows
Measures relating to customs procedures and cooperation, sanitary and phytosanitary measures, standards, technical regulations and conformity assessment procedures, electronic commerce, intellectual property and competition policy. These are all designed to reduce barriers to doing business in Chinese Taipei, as well as to improve dialogue and cooperation between New Zealand and Chinese Taipei.
Government Procurement
New Zealand suppliers are guaranteed on-going access to areas of the official procurement market of Chinese Taipei on an equivalent footing with both local suppliers and Parties to the WTO Government Procurement Agreement.
Trade and Labour, Trade and Environment
Chapters on Trade and Labour, and Trade and Environment that will enhance communication and cooperation on these issues and assist in meeting the shared objectives of raising working standards and improving environmental protection in New Zealand and in Chinese Taipei. There are provisions on Voluntary Market Mechanisms and an article on liberalising trade in Environmental Goods and Services that includes a list of 132 environmental goods.
Air Transport
A new “open skies” Air Transport Agreement (ATA) that removes restrictions on the frequency of flights between destinations in New Zealand, destinations in Chinese Taipei, and destinations in many other parts of the world.

Film and TV co-production
Provisions providing for the possibility of co-productions between New Zealand and Chinese Taipei in film or television. Film and television co-productions are entitled to all the benefits accorded to domestic productions in the laws and regulations of each .

Indigenous Cooperation
An Indigenous Cooperation Chapter that will enhance the cultural and people-to-people links between the indigenous people of Chinese Taipei and the New Zealand Māori as well as expand and facilitate trade.

Dispute settlement
A robust dispute resolution mechanism for the resolution of disputes between New Zealand and Chinese Taipei relating to the application or interpretation of ANZTEC.

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Of interest

ANZTEC - Economic Cooperation Agreement

The Agreement between NZ and the Separate Customs Territory of Taiwan, Penghu, Kinmen, and Matsu on Economic Cooperation. Read more

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