January 30, 2008

China to reduce tariff on agricultural products from New Zealand

China has recently concluded the Free Trade Agreement (FTA) which will reduce tariff on New Zealand's agricultural exports.

In turn, New Zealand will also eliminate its remaining tariffs on other Chinese products.

New Zealand Ministry of Trade said that the FTA is expected to be signed on April 2008.

According to reports, the dairy industry of New Zealand will reap huge benefits from the agreement.