China, NZ might begin FTA talks next year: minister

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Last updated at: (Beijing Time) Wednesday, February 11, 2004

China, NZ might begin FTA talks next year: minister

China and New Zealand may start talks on the establishment of a free trade area (FTA) as early as next year, said Jim Sutton, New Zealand minister for trade negotiations Tuesday in Beijing.

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China and New Zealand may start talks on the establishment of a free trade area (FTA) as early as next year, said Jim Sutton, New Zealand minister for trade negotiations Tuesday in Beijing.

"New Zealand and China were negotiating a trade and economic cooperation framework agreement, which might include a feasibility report for a NZ-China FTA," the minister told Xinhua during his visit in Beijing.

The agreement, a follow-up document of Chinese President Hu Jintao's visit to New Zealand last October, was expected to be inked in the middle of this year and the feasibility report could be finished by the end of 2004, Sutton said.

If all goes as planned, the talks on NZ-China FTA might begin next year, he said.

According to the minister, China was NZ's fourth trade partner and the trade volume was growing rapidly.

Chinese customs statistics show that in 2003, China-NZ trade soared 30.5 percent year-on-year, with a deficit of 200 million US dollar on the part of China.

China mainly bought wool, forestry products, pulp, meat and other agricultural products and sold garments, machinery, furniture and toys.

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