Display mode (Doesn't show in master page preview)

19 Apr 2005

International Economy

New Zealand's Premier Visiting Thailand: Signing FTA, Enhancing Trade

New Zealand's Prime Minister Ms. Helen Clark is scheduled to pay an official visit to Thailand between April 19 - 20, 2005. High on her agenda will be her presence at the signing of Thailand-New Zealand Free Trade Area agreement that will come into effect on July 1, 2005. Under the accord, around 80 percent of Thai goods shipped to New Zealand will immediately become beneficiaries of zero tariff rates, while tariff imposed on other products will gradually come to zero by the year 2015. Meanwhile, about half of New Zealand's goods shipped to Thailand will receive tariff reductions starting July 1, 2005, and the balance of them will gradually receive tariff cuts by 2025, ten years later than the deadline for Thai goods sent to New Zealand market.

Thai goods that will immediately benefit from this FTA with New Zealand include automobiles-equipment and parts; cosmetics and beauty products; polymers of ethylene, propylene, etc.; machines and parts; canned and processed fruit; non-silver jewelry; prepared tuna meals, prepared shrimp, processed corn, dogs and cat food, sacks and bags made from plastic, floor and ceiling tiles, motors, etc.

New Zealand goods that will immediately benefit from the FTA with Thailand include prepared baby meals; processed wood and products; chilled or frozen seafood; as well as processed and semi-prepared seafood; paper and products; wool; plastic and plastic products; prepared consumables such as vitamins, proteins and others; plus vegetables such as carrots, beans, etc.-

International Economy