Free Trade Agreements
New Zealand participates in numerous Free Trade Agreements, which significantly lower or abolish import tariffs. The New Zealand Government is actively working to simplify the process for foreign companies to export to New Zealand, with these changes anticipated to be implemented by late 2025.
New Zealand is part of the following Free Trade Agreements currently in force:
New Zealand – European Union Free Trade Agreement
The Free Trade Agreement (FTA) between New Zealand and the European Union, which took effect on 1st May 2024, presents significant opportunities for both exporters and importers. The value of two-way trade in goods and services between New Zealand and the EU stood at NZ$20.2 billion in 2022. New Zealand's principal exports to the EU include wine, fruit, dairy products, fish and seafood, meat, medical appliances, and mechanical machinery. Additionally, New Zealand offers export services like tourism, transportation, and professional and consultancy services.
New Zealand – China Free Trade Agreement
China stands as New Zealand's most significant trading partner, with bilateral trade surpassing NZ$37 billion in 2021. Tariffs have been removed for more than 98% of New Zealand's exported goods to China. The Free Trade Agreement (FTA) provides New Zealand businesses and consumers with improved access to high-quality Chinese goods, with all imports from China qualifying for tariff-free entry.
New Zealand – United Kingdom Free Trade Agreement
The two-way trade in goods and services between the parties exceeded NZ$5.3 billion in 2020. Eventually, the UK will remove all tariffs on New Zealand exports. Once fully realised, all customs duties on products will be abolished between the two countries.
New Zealand – Malaysia Free Trade Agreement
In 2019, the bilateral trade in goods between Malaysia and New Zealand exceeded NZ$3.5 billion. The agreement provides importers and exporters with benefits beyond those committed to in the AANZFTA.
New Zealand – Thailand Closer Economic Partnership
New Zealand and Thailand have economies that complement each other; Thailand primarily exports manufactured goods to New Zealand, while New Zealand sends agricultural products and timber to Thailand.
New Zealand – Republic of Korea Free Trade Agreement (KNZFTA)
The Korea-New Zealand Free Trade Agreement (KNZFTA) is a high-quality, comprehensive deal that provides substantial commercial advantages to exporters. Korea stands as a crucial trading partner for New Zealand, with bilateral trade valued at $5.38 billion in the year concluding December 2021.
New Zealand – Singapore Closer Economic Partnership
Singapore stands as New Zealand's foremost trading partner in Southeast Asia, boasting NZ$5.7 billion in bilateral trade and NZ$5.6 billion in mutual direct investment for the year concluding in December 2019.
New Zealand – Australia Closer Economic Relations (CER)
The CER is a free trade agreement between New Zealand and Australia. Australia stands as New Zealand's most significant trading partner, with bilateral trade valued at NZ$29 billion in 2022.
ASEAN - Australia – New Zealand free trade agreement (AANZFTA)
The AANZFTA is an agreement between ASEAN member states—Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, Vietnam, and the Philippines—along with New Zealand and Australia.
New Zealand – Hong Kong, China Closer Economic Partnership (CEP)
The CEP provides exporters with a competitive advantage and the opportunity to capitalise on expanding markets. It complements New Zealand's Free Trade Agreement (FTA) with China and augments the prospects of using Hong Kong as a gateway for trade into China.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
The CPTPP is a free trade agreement that includes 11 economies from the Asia-Pacific region, as well as the United Kingdom.
Regional Comprehensive Economic Partnership (RCEP)
The RCEP positions New Zealand at the heart of a region pivotal to the global economy. The 15 RCEP member economies encompass nearly a third of the world's population and comprise seven of New Zealand's top ten trading partners.
Digital Economy Partnership Agreement (DEPA)
The DEPA is a Free Trade Agreement between New Zealand, Chile, and Singapore. This FTA aims to address various facets of the digital economy that could bolster trade in the digital age, as well as a spectrum of emerging issues and areas within the digital economy. Both Canada and the Republic of Korea have shown interest in becoming members.
The Pacific Agreement on Closer Economic Relations (PACER)
The PACER is a significant trade and development agreement aimed at improving living standards, creating employment opportunities, and boosting exports across Pacific Island nations.
Trans-Pacific Strategic Economic Partnership (P4)
The P4, a Free Trade Agreement (FTA) between Brunei Darussalam, Chile, Singapore, and New Zealand, represents the inaugural trade pact bridging Asia, the Pacific, and the Americas. This agreement laid the groundwork for a more comprehensive Pacific Rim accord. Subsequently, eight additional nations have collaborated with the P4 economies to formulate the expansive Trans-Pacific Partnership (TPP).
Once a Free Trade Agreement is concluded, it must undergo legal verification, be signed, and then ratified by the governments of the involved parties. New Zealand is currently a participant in the following FTAs that are not yet in force:
Agreement on Climate Change, Trade and Sustainability (ACCTS)
The ACCTS is a ground-breaking trade agreement that delivers commercial opportunities to New Zealand’s economy, while addressing climate change and sustainability challenges. It is the first trade agreement New Zealand has concluded with Costa Rica, Iceland and Switzerland outside of the WTO:
Tariff elimination on 316 environmental goods at entry into force including for solar panels, wind and hydraulic turbines, electric vehicles, wool fibre, recycled paper and wood products.
Improved market access for New Zealand wool and wood exports to ACCTS members. These benefits will grow as more WTO members join the ACCTS and the scope of the agreement expands.
NZ-Gulf Cooperation Council free trade agreement
New Zealand’s free trade agreement negotiations with the Gulf Cooperation Council concluded on 31 October 2024. When this Agreement enters into force, New Zealand will join a small number of countries - and will be the first major agriculture exporter - with preferential access into the GCC market, the ninth largest economy in the world.
The GCC economies - Saudi Arabia, United Arab Emirates (UAE), Qatar, Kuwait, Oman and Bahrain – are New Zealand's seventh largest export market. Tariffs will be eliminated on 99% of New Zealand’s exports over ten years. Removing duties on New Zealand products will benefit New Zealand’s key exports, including dairy, red meat, horticulture and industrial products. Together with the UAE trade agreement, the GCC FTA will remove tariffs on 50.8% of New Zealand's trade into the Gulf region on day one.
New Zealand–United Arab Emirates free trade agreement (CEPA)
New Zealand and the UAE concluded negotiations on a free trade agreement on 26 September 2024.
The UAE is one of New Zealand’s largest markets in the Middle East, with goods and services exports totalling NZ$1.1 billion in the year to June 2024. New Zealand’s key exports to the UAE include dairy, industrial products, meat, horticulture and travel services. New Zealand will have the best-available access to the UAE market, with 99% of New Zealand goods exporters able to access the market duty-free, almost all at entry into force. This includes all New Zealand’s dairy, meat, horticulture and industrial products immediately from day one.
Trans-Pacific Partnership Agreement (TPP)
The TPP is a FTA aimed at liberalising trade and investment among 12 Pacific Rim nations: New Zealand, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, the United States, and Vietnam. The TPP Agreement, signed in February 2016, was ratified by New Zealand in May 2017, with Japan following suit. However, the TPP requires ratification by at least four additional signatories, including the United States, to come into effect. The United States has indicated its intention not to join the Agreement. Following the U.S. withdrawal, the remaining 11 countries have reaffirmed the TPP's economic and strategic significance.
Anti Counterfeiting Trade Agreement (ACTA)
The ACTA is designed to establish a higher standard for the enforcement of intellectual property rights. It is not a free trade agreement but rather a specialised agreement focused on combating the increasing global trade of counterfeit and pirated goods that are protected by copyright. Adoption of ACTA is voluntary for countries. New Zealand, along with ten other member countries of the World Trade Organisation (WTO), has signed ACTA, although it has not yet been implemented.
New Zealand is party to several FTAs that are still in the negotiation phase. New Zealand is actively engaged in discussions for the following FTAs:
New Zealand – India FTA
Indo-Pacific Economic Framework for Prosperity (IPEF)
New Zealand-Pacific Alliance free trade agreement
WTO e-commerce negotiations
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