[Industry Alert] Hong Kong, New Zealand to resume bilateral trade agreement talk

[2009-02-12 10:25:18]

Hong Kong and

New Zealand

have agreed to resume formal negotiations on a bilateral trade agreement, with the first round of the talks planned for late April or early May this year, the Hong Kong Special Administrative Region (HKSAR) government said Tuesday.

"A preparatory meeting will be held in Hong Kong in March to prepare for the resumed negotiations," the HKSAR government said in a statement.

The statement said the emphasis of the Hong Kong and

New Zealand

Closer Economic Partnership Agreement will be on trade and investment liberalization and facilitation.

It will cover issues such as early elimination of tariffs on all goods of local origin; forward-looking rules of origin which could encourage bilateral trade; liberalization of potentially distortive instruments, such as safeguards, anti-dumping and subsidies measures; bilateral investment and trade in services.

Bilateral trade between Hong Kong and

New Zealand

has enjoyed consistent growth. Merchandise trade between Hong Kong and

New Zealand

totaled 897 million U.S. dollars in 2007, while services trade totaled 385 million U.S. dollars in 2006.

Source: Xinhua

Keywords:resume bilateral trade

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