China, NZ to benefit from upgraded free trade agreement

Chinese and New Zealand exporters will benefit from the more convenient trade rules after the two countries upgraded their free trade agreement, China's Ministry of Commerce said on Monday.

China and New Zealand announced that they have officially finished the consultations on upgrading their free trade agreement, the ministry said in a brief statement.

In the negotiations, both sides further upgraded the protocol's chapters such as original customs procedures and cooperation, rules of origin and technical trade barriers. Chapters like e-commerce, environment and trade, competition policy and government procurement were added, according to the statement.

Both sides also made new commitments in areas like the market access of trade, and investment, the statement said.