New Zealand’s benefits from the Regional Comprehensive Economic Partnership (RCEP) are much wider than just tariff relief, says ExportNZ.
The organisation's executive director Catherine Beard (pictured) has welcomed the signing of the RCEP trade deal which formalises New Zealand’s trading terms with 14 Asia-Pacific countries.
"Having nearly a third of the world signed up to better trading rules is a great achievement," Beard says. "It will make exporting within the RCEP bloc, easier, faster and more profitable.
"The tariff and non-tariff burden on New Zealand exporters has been reduced as a result of RCEP’s signing.
"Also significant are new rules around the treatment of perishable foods: RCEP countries have agreed that their customs services will release perishable goods within six hours of arrival. This is a vital issue for our food exporters who will be better able to manage and protect the quality of their products.
"RCEP also improves prospects for exporters of services, with greater access into the significant markets of Indonesia, Thailand and the Philippines for export education.
"I am pleased that the RCEP contains commitments about transparency and consultation around tariffs, non-tariff barriers and import licensing, and that cross border digital trade will be encouraged.
"New Zealand’s trade negotiators have worked hard on this agreement and kept us in an important Asia-Pacific trade club."