New Zealand’s FTA tariff finder – essential information for exporters and importers
Article written by: Tim Jackson | Friday 2nd December 2016
The New Zealand Ministry of Foreign Affairs and Trade (MFAT) has produced a guide to current Free Trade Agreements in force to allow exporters and importers to access information about current and future duty rates or concessions, and tariff rules.
While the Trans Pacific Partnership Agreement appears to be dead in the water as a result of the election of Donald Trump as the next President of the United States, New Zealand remains a party to a number of Free Trade Agreements (FTA) and is in the process of negotiating several more.
New Zealand has successfully concluded FTAs with China, Australia, Hong Kong, Malaysia, Singapore and Thailand, as well as being part of the ASEAN Australia New Zealand (AANZFTA) covering Australia, Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
FTAs concluded, but which are not yet in force, include the TPPA and the NZ Gulf Cooperation Council (Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman, and Bahrain) FTA.
NZ also has a number of FTAs that are still in the negotiation stage. These include negotiations with India, as well as with the EU, the PACER Plus (Pacific Agreement on Closer Economic Relations) and the Regional Comprehensive Economic Partnership (RCEP) regional agreements. The RCEP includes Brunei-Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam, Australia, China, India, Japan, and Korea.
Keeping up with the current and future rates, concessions and tariff requirements can therefore be a daunting task.
In order to remove some of the information obstacles, the New Zealand Ministry of Foreign Affairs and Trade (MFAT), has very helpfully produced a guide to current FTA’s in force to which New Zealand is a party. The guide allows exporters and importers to access information about current and future duty rates or concessions, and tariff rules. The current guide includes a TPPA option (although this may be premature) and will be updated as new FTAs are successfully concluded. The guide includes a link to full FTA tariff schedules if needed.
The guide is available here. Enjoy!
For more information regarding free trade agreements and protecting your intellectual property, please contact a Baldwins representative.