The New Zealand government said on October 17 that it is to review its free trade agreement (FTA) with ASEAN, citing a rising number of non-tariff barriers that hinder bilateral trade.
New Zealand Trade Minister Todd McClay (Photo: Internet)
Hanoi (VNA) - The New Zealand government said on October 17 that it is to review its free trade agreement (FTA) with ASEAN, citing a rising number of non-tariff barriers that hinder bilateral trade.
New Zealand Trade Minister Todd McClay said the ASEAN-Australia-New Zealand FTA has lifted New Zealand trade with the region by 25 percent since 2010 when it came into force.
The deal has reduced or eliminated tariffs across many of New Zealand's exports into key Southeast Asian markets. It is expected to deliver 50.42 million USD in cost-savings for New Zealand exporters this year and 68.18 million USD once the staged elimination of tariffs was completed after 2020.
However, McClay said exporters of both goods and services are facing an increasing number of non-tariff barriers in Southeast Asia, such as import quotas, subsidies, customs delays and technical barriers, which are holding them back.
The government review would take place ahead of a comprehensive review of AANZFTA by New Zealand, Australia and ASEAN countries next year.
According to him, the review will help the country better understand the business perspective before going into the broader review as well as seek possible improvements to the agreement.
🌺 The introduction of more liberal and transparent trade rules under the FTA helped increase New Zealand's trade with ASEAN from 8.52 billion USD in 2010 to over 10.66 billion USD last year.-VNA
Prime Minister Nguyen Tan Dung have urged ASEAN and partner countries to focus their links across education, narrowing development gap, agriculture, connectivity, sub-regional collaboration.
ASEAN and New Zealand sought measures to step up their cooperation at the fourth meeting of their Joint Cooperation Committee which took place in Jakarta, Indonesia on June 3.
The 21st Consultation Meeting between ASEAN Economic Ministers and Economic Ministers from Australia-New Zealand Closer Economic Relations (ASEAN-CER 21) took place in Vientiane, Laos on August 4.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
New Zealand Trade Minister Todd McClay (Photo: Internet)
