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China and New Zealand would Timely Launch Negotiations on Free Trade Agreement
Hu Jintao, President of PRC, and Helen Clark, New Zealand Prime Minister, announced on Nov.19 that China and New Zealand would launch Free Trade Agreement negotiation as soon as possible.
Leaders of the two nations made the Decision after the publishing of joint feasible study report on China-New Zealand Free Trade Zone. The Study indicated that to establish a free trade zone was practical and would be beneficial to both people and economy of the two nations with a view that China and New Zealand strongly were complementary to each other economically. Meanwhile, economic mode adopted in the process of Research also showed that it was favorable for economic development of the two nations to set up a free trade zone.
The Study was launched after the signature of "China-New Zealand Trade and Economic Cooperation Framework". According to the Framework, New Zealand has been the first developed country in the world that recognized China's market economy status.
The Study not only indicated that it brought benefits from the Free Trade Zone for two nations, but also pointed out trade liberalization would probably result in adverse influence on some manufacturers and suggested to take the negative effects into consideration while negotiating.
While publishing the feasible study report and announcing the launching shortly of Free Trade Zone, president Hu Jintao and Prime Minister Clark expressed that China-New Zealand Free Trade Zone would be consistent with WTO rules, which would be favorable to promote the accomplishment of APEC target. At last, two leaders reaffirmed that governments of the two countries would insist on the commission of sustainable development.
(Information by Network Center of MOFCOM)
(News source: English Website of Ministery of Commerce)
