Membership of the TPP would be a much greater economic and diplomatic victory for Taiwan and President Ma. However, Taiwan would also need much more in terms of economic openness than the NZ-Taiwan Free Trade Agreement. So far, it seems that Taiwan is not ready to open up enough to meet a diplomatic challenge for the Trans-Pacific Partnership. Taiwan should stick to its recent free trade agreement and make free trade commitments. „Since the signing of the ANZTEC agreement, we have seen an increase in trade and cooperation between New Zealand and Taiwan, and we hope that Australia will follow suit,“ said Alex Matos, Executive Director of ANZCham Taipei. Taiwan`s high-tech and petrochemical exporters are expected to see some benefits, as tariffs are falling under the agreement. Manufactured goods account for 29% of Taiwan`s exports to New Zealand, followed by refined fuels of 26% and transportation of 23%. Taiwanese restaurants will also pay less for New Zealand agricultural products. Imports from New Zealand are mainly food products, which account for a total of 76% of all vessels bound for Taiwan. (New Zealand beef has been popular in Taipei restaurants for the past two years, fearing sick imports from the United States.) Here is a list of the free trade agreements that include New Zealand. In parentheses, the abbreviation, if any, membership, unless indicated in advance, and the date of entry into force. The importer may choose by the exporter or manufacturer the form of proof of origin it is seeking, provided it contains all the necessary data elements.
A guide is available to merchants if they wish. New Zealand`s economy is a market economy heavily dependent on international trade, particularly with Australia, the United States of America, China and Japan. It is highly dependent on tourism and agricultural exports and has only small manufacturing and high-tech components. Market economic reforms in recent decades have removed many barriers to foreign investment, and the World Bank has made New Zealand the most business-friendly country in the world . Regional and bilateral free trade agreements have become an important part of New Zealand`s international trade policy. New Zealand has used free trade agreements, also known as closer economic partnerships, to liberalize trade between economies. A closer economic partnership agreement with Thailand was negotiated in 2004 and implemented in 2005. Negotiations for a free trade agreement with Chile, Brunei and Singapore, known as the Trans-Pacific Strategic Economic Partnership, were concluded in 2005.