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Tuesday, 28 March 2017

New Zealand and China plan to expand free-trade deal

New Zealand and China plan to expand free-trade deal
- New Zealand Prime Minister Bill English said the 9-year-old deal had been a huge success and resulted in trade between the countries tripling. He said an upgrade to the agreement would expand trade further, and that talks would begin next month.

Li also praised the deal, saying it was the first that China had signed with a developed nation and remained the most advanced. He said the deal helps send a signal to the world.
"It's important to the peace and stability of the region and beyond," he said.
New Zealand hopes that a renegotiated agreement would allow it to sell more dairy products to China, while China also hopes to sell more goods in New Zealand and erase a small trade deficit.
The original deal imposes tariffs on certain New Zealand products sold in China after limits are reached.