CCTV news: today (26th), the protocol to upgrade the China New Zealand free trade agreement was officially signed by video. Both sides have made greater commitment to opening up in market access and expanded the scope of MFN commitment in service trade. The protocol also significantly optimizes the relevant trade rules, adding four new rules in the fields of e-commerce, government procurement, competition policy, environment and trade.
Since the signing and entry into force of the China Singapore FTA in 2008, the total bilateral import and export volume has increased from US $4.4 billion in 2008 to US $18.1 billion in 2020, with an average annual growth of 14%. China has become New Zealand’s largest trading partner and the second largest source of foreign capital for many years.