Taiwan trade booms two years after FTA
The government has provided more benefits from free trade agreements with exports to Taiwan showing rapid growth.
The Anztec deal (Economic Cooperation Agreement between New Zealand and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu) came into agreement two years ago.
Trade Minister Tim Groser says horticultural exporters in particular are reaping the benefits of preferential tariff access.
“Before the agreement came into force, New Zealand’s goods and services exports to Chinese Taipei were valued at $987 million a year,” he says.
“Since then, exports have increased by 22%, rising to $1.2 billion in the year ended June 2015. Exports of New Zealand apples are now worth $40 million, up by more than 200% since June 2013. Apples previously had a tariff of 20%.”
Taiwan is also an important market for cherries (up 150% since 2013) and kiwifruit (up 24%).
“Dairy exports, New Zealand's largest export to Chinese Taipei, have grown 21% in value since June 2013 and now total $350 million a year. The 10% tariff on milk power and 5% tariff on butter were eliminated on entry into force,” Mr Groser says.
Wine exports have jumped 56% to $1.3 million after the elimination of a 10% tariff on non-sparkling wine and 20% tariff on sparkling wine.
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