Asean FTA bigger than one with China!
Fran O ‘Sullivan writes in the HoS on the visit of the Brazilian Foreign Minister. At the end she gives some information on the new trade deal with Asean:-
The Asean deal appears to be a good one.
It’s a little-known fact, but the Asean market ranks number three in New Zealand trade taking $4.6 billion in exports and growing at 24 per cent a year. The deal will take precedence over the terms in earlier bilateral deals that New Zealand signed with countries such as Thailand.
It means 99 per cent of tariffs (facing New Zealand exporters) will be wiped within 12 years. This is good news for Kiwi exporters to the 10-strong South-East Asian bloc that contains countries ranging from Indonesia and Singapore to Myanmar.
Potentially, it is worth much more than the recent China free trade deal that New Zealand stitched up.
It would seem that Mr Goff has achieved another good outcome for NZ. Note the last sentence, that is good news.
On the international trade front it must be acknowledged that this government has achieved a lot.
Regarding the Asean deal it is to be hoped that some of the shortcomings in the existing FTA with Thailand have been replaced by this deal.
It would be good to see more detail available on the Asean deal and hopefully a roadshow like the one for China.
