HKETO Sydney - Hong Kong-New Zealand Trade Relations

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Hong Kong-New Zealand Trade Relations

The average annual growth rate in bilateral trade between Hong Kong and New Zealand was 4% from 2008 to 2012. The bilateral trade increased by 7% in 2012.
In 2012, New Zealand was Hong Kong's 39^th largest trading partner; our 40^th largest market for domestic exports; 42^nd largest market for re-exports; and 33^rd largest source of imports.
Reciprocally, Hong Kong was New Zealand's 18^th largest trading partner, 9^th largest export market and 34^th largest source of imports in 2010.
In 2012, HK$4.0 billion (US$0.5 billion) worth of trade between New Zealand and the Mainland of China was routed through Hong Kong, representing 5.4% of the total trade between New Zealand and the Mainland.
The Hong Kong, China–New Zealand Closer Economic Partnership (CEP) Agreement was signed on 29 March 2010 and entered into force on 1 January 2011. It is a comprehensive and high quality free trade agreement covering a wide range of areas of mutual interest to Hong Kong and New Zealand, including liberalisation measures in both trade in goods and services, as well as initiatives to further strengthen the bilateral trade and economic ties on various fronts. Under the CEP Agreement, the two sides agreed to enter into and conclude negotiations on an Investment Protocol.

(Values in million)

* Figure denotes share of Mainland-origin re-exports in Total Re-exports.

Domestic Exports

In 2012, Hong Kong's major domestic export items to New Zealand were miscellaneous edible products and preparations (21%); plastic in primary forms (19%); jewellery, goldsmiths' and silversmiths' wares, and other articles of precioius or semi-precious materials (16%).

Re-exports

In 2012, Hong Kong's major re-export items to New Zealand were telecommunications and sound recording and reproducing apparatus and equipment (27%); articles of apparel and clothing accessories (21%); and office machines and automatic data processing machines (11%).

Imports

In 2012, Hong Kong's major import items from New Zealand were dairy products and birds' eggs (23%); meat and meat preparations (15%); and fish, crustaceans, molluscs and aquatic invertebrates, and preparations thereof (12%).

From 2006 to 2010, the average annual growth rate of exports of services to New Zealand was 16.7%. In 2010, the value of total exports of services to New Zealand increased by 47.9% year-on-year to HK$2,518 million (US$324 million), equivalent to 0.3% of Hong Kong's total exports of services. Major groups of services exports include transportation services, merchanting and other trade-related services, and travel services.
From 2006 to 2010, the average annual growth rate of imports of services from New Zealand was 4.7%. In 2010, the value of total imports of services from New Zealand increased by 13.6% against 2009 to HK$1,888 million (US$243 million), equivalent to 0.5% of Hong Kong's total imports of services. Major groups of services imports include travel services and transportation services.

As at 1 June 2012, 8 regional offices were set up by New Zealand companies in Hong Kong.
Hong Kong and New Zealand signed the Investment Promotion and Protection Agreement (IPPA) on 6 July 1995. The Agreement came into force on 5 August 1995.

The Hong Kong-New Zealand Arrangement on Co-operation on Wine-related Business was signed on 28 October 2009 in Hong Kong. Under the arrangement, both places will strengthen co-operation in the promotion of wine-related trading, investment, tourism and education and in the fight against counterfeit wine.

January 2013