Trade talks with Hong Kong to resume

Trade Minister Tim Groser today welcomed the resumption of trade talks with Hong Kong.

"New Zealand and Hong Kong have for many years maintained a constructive and positive relationship supported by close business and educational ties. The resumption of negotiations enables us to look at taking relations to a new level, by providing a valuable platform to stimulate growth in our trading relationship.

"This would be a further positive step in raising the profile of New Zealand businesses in this vibrant market," Mr Groser said.

New Zealand and Hong Kong commenced Closer Economic Partnership (CEP) negotiations in 2001 but after five rounds of talks, the negotiations were suspended in 2002.

"Hong Kong is a sophisticated and strategically positioned trading partner. They are our 16th largest export destination and our 22nd largest trading partner overall. They are our 8th largest source of Foreign Direct Investment and a valuable source of tourists and overseas students.

"Like New Zealand, Hong Kong is a strong proponent of open markets and a supporter of the multilateral trading system. At this critical phase in world economic events, reinvigorating these trade talks sends out a very positive signal to the region and underlines the value both parties attach to the relationship."

Officials will meet in Hong Kong in early March for preparatory discussions with the first full round of negotiations planned for late April/early May in New Zealand.

Businesses and stakeholders with an interest in Hong Kong are encouraged to provide feedback which will be taken into account as Ministers determine the mandate for negotiations.

For more information on how to provide feedback on the Hong Kong - New Zealand CEP process, visit www.mfat.govt.nz.