New Zealand and China are set to announce later this month the results of a feasibility study into a possible free trade agreement between the two nations, which will mark the first such agreement between China and a developed country.
It is thought likely that the two sides will start the ball rolling on an FTA when ministers meet for the Asia Pacific Economic cooperation summit to be held in Chile on November 20.
"I anticipate there will be an announcement on next steps at the time of the meeting between our prime minister and China's President Hu Jintao at APEC," New Zealand Foreign and Trade Office official Charles Finny revealed to the Associated Press.
Finney added that addressing barriers to trade would eventually result in a “net benefit” for New Zealand, although observed that business in both countries deemed a move towards an FTA desirable.
China is New Zealand’s fourth largest trading partner, with bilateral trade totalling a reported NZ$4.8 billion (US$3.3 billion).
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