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Agreements to boost bilateral relations
Time: 2013-04-15 14:32:19     Copyfrom: MAMMOTH INTERNATIONAL GROUP

China and New Zealandwill drive the growth of their business ties through new energy, agriculture,finance and high technology.

"China is pushing forward the transformation ofits economic growth model, breaking the bottleneck in resources andenvironment, and aiming to launch an updated version of the Chineseeconomy," Premier Li Keqiang said during his meeting with New Zealand Prime Minister John Key in Beijing on Wednesday.

Sixagreements were signed by the countries.

Liemphasized that measures to transform and upgrade the Chinese economy will bedone in an open way.

"Thetwo countries are in good economic condition, and there is immense room toenhance cooperation in cutting energy emissions and boosting clean energy, as New Zealand isvery strong in developing green economy," Li said.

Two-waytrade reached NZ$14.2 billion ($12.14 billion) in 2012.

StrongChina-New Zealand relations are critical to New Zealand, and "we arecommitted to strengthening cooperation in agriculture and animal husbandry,finance, food safety, investment and education", Li said.

Keyrecently led a delegation to Chinato promote economic and trade relations.

China and New Zealandsigned a free trade agreement in April 2008 that came into force in Octoberthat year. It was the first FTA that China signed with a developedeconomy.

TheFTA has stimulated trade, particularly New Zealand exports to China, which surged to NZ$6.9billion in 2012, up 16.6 percent from a year earlier.

China's shipments to New Zealandrose 3.89 percent year-on-year to NZ$7.3 billion.

China has become thesecond-largest destination for New Zealand'sexports, after Australia.

PresidentXi Jinping and Key recently agreed to boost two-way trade to NZ$20 billion bythe end of 2015 by further implementing and leveraging the FTA.

Lisaid the two countries should start direct trade in the yuan and New Zealanddollar, which would enhance cooperation in food processing and preservation.

New Zealand announced onWednesday that independent Chinese visitors to New Zealand can apply for longer stays — from 12 months to 24months — to better meet the demand of the Chinese market, the most rapidlygrowing tourism market for New Zealand and the second-largest source ofvisitors.

New Zealand statistics showed that more than 200,000 Chinese visitors traveled therein the past year, up 38 percent from the previous year. They spent around $555million.

Ties: Growth in economy brings more opportunities

TheNew Zealand Overseas Investment Office said on Wednesday that it had approvedapplications from Chinese dairy firms Yashili New Zealand Dairy and InnerMongolia Yili Industrial Group to buy land to build the two formula processingplants, valued at more than NZ$200 million ($168.43 million) each. The greenlight paves the way for Chinese companies to expand into the world's largestdairy exporting country.

"China's increasing domestic consumption meansopportunities for New Zealand businesses," Huo said.

Xisaid during his keynote speech at the recent Boao Forum for Asia AnnualConference 2013 that the growing Chinese economy generates businessopportunities for Asia and the world, and China's economic growth could besustained as the nation expands domestic consumption and enhances its presenceabroad.

Telecom New Zealandsaid this week that China'sHuawei Technologies, the world's second-largest telecom equipment maker, haswon a contract to build the 4Gmobile network infrastructure for the biggest telecom company in New Zealand.