WELLINGTON/BEIJING: China and New Zealand signed a deal that upgrades their existing free trade pact on Tuesday, giving exports from the Pacific nation greater access to the world’s second-largest economy.
New Zealand Prime Minister Jacinda Ardern confirmed the signing of an expanded trade deal with China, noting its significance amid the pandemic.
The agreement comes as Beijing seeks to establish itself as a strong advocate of multilateralism following a bruising trade war with the United States and as the coronavirus keeps international borders closed.
“China remains one of our most important trade partners…For this to take place during the global economic crisis bought about by COVID-19 makes it particularly important,” Ardern said at a news conference.
The agreement expands an existing trade deal with China and ensures it remains fit for purpose for another decade, New Zealand trade minister Damien O’Connor said in a statement.
Under the new deal, tariffs for many of…