Opening Doors in China

New Zealand China Strategy

New Zealand China Strategy

The Government NZ Inc strategies•Set goals and priorities for New Zealand’s key country and regional relationships •Coordinate government efforts •Boost New Zealand’s growth•Target key markets•Engage and support business

New Zealand China Strategy

Why China?•World’s second largest economy – still growing relatively fast; major influencer in Asia Pacific region•By 2016 China could be the world’s largest economy•By 2025 China is likely to be New Zealand’s largest economic partner •We need to identify opportunities now for future growth•NZ’s relationship with China is crucial to delivering on government’s Economic Growth Agenda

New Zealand China Strategy

New Zealand China Strategy

New Zealand’s China challenge•To translate excellent political ties and a trading framework into tangible benefits for New Zealand.•To utilise our strong levers – China New Zealand FTA (2008), four firsts, knowledge and connections

New Zealand China Strategy

New Zealand China Strategy

The vision for 2015:

“New Zealand and China have strong and resilient economic, political and people to people

relationships which have stimulated New Zealand’s innovation, learning and economic

growth.”

New Zealand China Strategy

Goal 1 - Retain and build a strong and resilient political relationship with China

•Importance of political relationship•Ministerial visit programme – especially in context of 40th anniversary•Establishment of NZ China Council

New Zealand China Strategy

Goal 2 - Double two way goods trade with China to NZ$20 billion by 2015

•NZ exports have tripled since FTA•Underpinned by commodity growth•Development of higher value products and services.•NZTE focus on high growth companies project and priority sectors.

New Zealand China Strategy

Goal 3 - Grow services trade with China, education by 20%, tourism by 60%, by 2015

•High value, profitable non-commodity growth•Education market analysis and develop targeted branding and promotion campaign•Support and facilitate expanded air links

New Zealand China Strategy

Goal 4 - Increase bilateral investment to levels that reflect the growing commercial relationship with China

•Current levels low, room for growth•Creation of Investment advisory positions based in China

New Zealand China Strategy

Goal 5 - Grow high quality science and technology collaborations with China to generate commercial opportunities

•Commercially-focused initiatives under the NZ China Strategic Research Alliance.•Lanzatech – NZ technology and Chinese capital in commercial venture

New Zealand China Strategy

Cross-cutting Value Proposition: Develop and Protect the New Zealand brand

– Safe food–World-beating tourism– Tikanga Maori

New Zealand China Strategy

Ministry of Foreign Affairs and Trade Role:•Protect and promote New Zealand's interests in China•Leadership role for the official relationship – Leadership role for the official relationship – onshore and offshoreonshore and offshore•China Strategy CoordinationChina Strategy Coordination•4040thth Anniversary Anniversary•Opening doors for businessOpening doors for business

New Zealand China Strategy

New Zealand China Free Trade Agreement•Since October 2008, bilateral trade has increased Since October 2008, bilateral trade has increased 50% - NZ exports have increased 150%.50% - NZ exports have increased 150%.•Preferential tariff rates resulted in duty savings of NZ $130 million over the last two years.•Over 90% of tariff lines duty free since Jan 2012. Over 90% of tariff lines duty free since Jan 2012. •Keen for business feedback on challenges and opportunities.

New Zealand China Strategy

OPENING DOORS TO CHINA: NEW ZEALAND’S 2015 VISION

http://www.mfat.govt.nz/NZ-Inc/6-Opening-doors-to-China/index.php

New Zealand China Strategy