Prodoc posted on November 19, 2009 09:47
New Zealand and Hong Kong have completed the Closer Economic Partnership (CEP) agreement.
The agreement aims to provide New Zealand businesses with greater certainty and transparency when they are exporting to Hong Kong. It complements the Free Trade Agreement (FTA) signed with China, which did not include Hong Kong.
Hong Kong is New Zealand's 9th largest export market and 8th largest source of foreign direct investment. Trade between New Zealand and Hong Kong is currently worth $823 million, having increased steadily over the past decade.
Officials must now complete legal verification of the agreement before it is put before Ministers for signing. This is likely to occur in the first half of 2010.
(Sourced from NZTE website: www.nzte.govt.nz)