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Farmers welcome China FTA upgrade

NZ Newswire logoNZ Newswire 21/11/2016

New Zealand's plans to upgrade its free trade agreement with China will be good news for the primary sector, according to Federated Farmers.

Prime Minister John Key announced during his attendance at the APEC Summit in Peru this week that the two nations would upgrade their eight-year-old agreement.

The move toward China is expected to fill any void left by a US withdrawal from the Trans-Pacific Partnership, which would result in that agreement not proceeding in its current form.

Federated Farmers president William Rolleston says a review of the New Zealand-China agreement should enhance tariff removal and elimination with a particular focus on dairy.

"One of the keys to the success of this agreement has been the determination by our negotiators to focus on non-tariff trade barriers, which can often be as costly as tariffs," Dr Rolleston said.

"We support the determination of our Trade Minister (Todd McClay) and his officials to keep working on improving this agreement, it can only be good for New Zealand's economy."

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