Meat and Wool New Zealand Welcomes FTA Success
NEW ZEALAND - Meat and Wool New Zealand Chairman, Mike Petersen, has applauded the success of the Free Trade Agreement (FTA) negotiations with the 10 ASEAN countries.
29 August 2008
2 minute read
"This is a great accomplishment for New Zealand in terms of trade liberalisation," Mr Petersen said.
"The negotiations have been difficult, as New Zealand had to negotiate one-on-one with each of the 10 member countries. The New Zealand meat industry urged negotiators to keep the pressure on for full liberalisation without exclusions.
"I'm pleased that the Government took that message to the table and has been successful in delivering on it. The ASEAN group of countries is growing fast and we expect it to be a significant market for the future."
While the FTA's final details will not be known until it is signed by Ministers in December, Meat and Wool New Zealand expects to see tariff elimination over an acceptable time frame for all our products of interest.
"Although the current tariffs applied by ASEAN countries are relatively low, the maximum tariffs that can be charged are high. This agreement will eliminate the risk of tariff increases."
ASEAN is an important emerging market for New Zealand meat products. Phenomenal growth, especially in Indonesia, means ASEAN is now the fourth most valuable market for New Zealand beef. In the year ending June 2008, New Zealand exported over NZ$150 million worth of beef to the ASEAN region, with 60 per cent going to Indonesia. ASEAN is also an important market for sheep meat and other meat by-products.
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