New Zealand to promote trade with China

New Zealand is on track to double two-way trade with China to 20 billion New Zealand dollars by 2015, said New Zealand Foreign Minister Murray McCully here on Friday.

McCully made the comments in his speech on 40-year relationship between China and New Zealand delivered at the China Foreign Affairs University.

McCully said the two countries' bilateral trade has grown rapidly and reached 13.3 billion New Zealand dollars.

The goal of doubling two-way trade from 10 billion to 20 billion NZ dollars by 2015 was agreed between New Zealand Prime Minister John Key and Chinese Premier Wen Jiabao in 2010.

"In 2011 alone our exports totaled 5.98 billion, a 22-percent increase over 2010. China is our second largest bilateral trading partner and our second-largest export destination, taking 12.34 percent of our total exports, and is our largest source of imports," he said.

McCully pointed out that New Zealand has worked hard over the years to cooperate more closely with China. The country, he said, is extremely proud of its "four firsts" with China, especially the fact that New Zealand was the first developed country to begin and conclude a Free Trade Agreement (FTA) with China, back in 2008, and remains the only developed country to have an FTA with China.

The New Zealand Government believes that there is still much more that they can do with China and that the bilateral relationship's growth is reflected in trade as well as other factors, according to its foreign minister.

"For us the relationship with China is central both to our trade and economic future...... and we see the close ties that have developed between China and New Zealand as good for both countries and good for the region," said McCully.

McCcully paid a three-day visit to China starting April 4 at the invitation of his Chinese counterpart, Yang Jiechi.