The upgrading of China-New Zealand free trade agreement (FTA) and the development of the Guangdong-Hong Kong-Macao Greater Bay Area will bring greater opportunities for economic cooperation between China and New Zealand, participants at a business forum held here said, Trend reports citing Xinhua.
The forum focusing on the FTA upgrade and the Guangdong-Hong Kong-Macao Greater Bay Area (the Greater Bay Area) development opportunity, held in Auckland, was attended by New Zealand business leaders, industrial representatives, trade organisations, diplomats and media reporters.
China and New Zealand signed a protocol on upgrading their 12-year-old free trade agreement in January this year.
Martin Thomson, chair of the New Zealand China Trade Association, said at the forum that the FTA upgrade is a strong signal of the commitment by both governments to grow the economic relationship between the two countries.
Thomson believed that China's robust economic growth is creating greater opportunities for New Zealand businesses.
While addressing the forum, Chinese Vice Consul-General in Auckland Xiao Yewen said the signing of the protocol earlier this year demonstrates the greater potential and brighter prospect of economic and trade cooperation between the two countries.
"It will not only help create new areas of growth for the two countries in the post-pandemic era, but also make contribution to regional economic recovery and development," said Xiao.
Ao Yan, secretary-general of China Council for the Promotion of International Trade Guangdong Committee, delivered a video speech to the forum, saying the signing of the free trade deal upgrade protocol will bring greater opportunities and support to businesses in Guangdong and the Greater Bay Area.
In 2008, China signed an FTA with New Zealand, the first FTA between China and a developed country.