NZ minister hails growing trade and education ties

The New Zealand-China trade relationship has grown quickly in the last decade, reflecting both China's increasing importance to the world economy and the benefits to New Zealand of the New Zealand-China Free Trade Agreement, a New Zealand minister said.

"Since the FTA came into force in September 2008, more than 90 percent of tariffs have been reduced to zero, two-way trade has increased by 75 percent, and New Zealand exports to China have more than tripled," said Steven Joyce, Economic Development Minister of New Zealand, who was in China for a six-day visit to Shanghai, Hangzhou, Beijing and Shenzhen.

In the year ending September 2013, total two-way trade between New Zealand and China was up 16.8 percent to NZ$16.53 billion ($13.66 billion). Exports were up 28.5 percent to a record high of NZ$8.27 billion, and imports were up 7 percent to NZ$8.26 billion.

Joyce added that the New Zealand-China education relationship is also on the rise.

"Education is now New Zealand's third-largest export to China after dairy products and wood, with over 24,000 fee-paying Chinese students studying in New Zealand in 2012 (up 4.5 percent over the previous year)," he said.

Students from China now account for 27 percent of the international student population in New Zealand, and contributed NZ$800 million to the economy.