Trade Minister welcomes dramatic growth in exports to Chinese Taipei

Trade Minister Tim Groser today released new statistics showing spectacular growth in New Zealand’s exports to Chinese Taipei since the Economic Cooperation Agreement between New Zealand and the Separate Customs Territory of Taiwan, Penghu, Kinmen, and Matsu (ANZTEC) entered into force in December 2013.

“New Zealand exporters are reaping the benefits of preferential tariff access to Chinese Taipei,” says Mr Groser.

“Before entry into force, New Zealand’s goods and services exports to Chinese Taipei were valued at $987 million a year. Since then, exports have increased by 22 percent, rising to $1.2 billion in the year ended June 2015.

“As of June 2015, exports of New Zealand apples to Chinese Taipei are now worth $40 million, up by over 200 percent since June 2013. Apples previously had a tariff of 20 percent tariff, which was eliminated on entry into force.

“There has also been significant improvement in cherry exports (up 150 percent since 2013) and kiwifruit exports (up 24 percent).

“Dairy exports, New Zealand's largest export to Chinese Taipei, have grown 21 percent in value since June 2013, and now total $350 million a year. The 10 percent tariff on milk power and 5 percent tariff on butter were eliminated on entry into force.

“Exports of New Zealand wine to Chinese Taipei have grown 56 percent to $1.3 million. The 10 percent tariff on non-sparkling wine and 20 percent tariff on sparkling wine were eliminated on entry-into-force.

“These early results are extremely encouraging and will build jobs and more opportunities, particularly in regional and provincial New Zealand, where the production of cherries, apples and kiwifruit – all of which recorded spectacular gains – are concentrated.

“These extremely positive early results gives us confidence that Free Trade Agreements, Closer Economic Partnership Agreements and broad, comprehensive Economic Cooperation Agreements like this one are all steps towards a more prosperous New Zealand.”