Trade
McGraw argues that, "Probably the greatest foreign policy achievement of Clark's term was the conclusion of a free trade agreement with China." Clark's government also set up a free-trade deal with Australia and the ten nations of ASEAN (the Association of South East Asian Nations).
New Zealand has existing free trade agreements with Australia, Brunei, Chile, the People's Republic of China, Hong Kong, Singapore, and Thailand; new free trade agreements are under negotiation with ASEAN, and Malaysia. New Zealand is involved in the WTO's Doha Development Agenda and was disappointed by the failure of the most recent talks in July 2006.
New Zealand's main export is food, primarily dairy products, meat, fruit and fish; about 95% of the country's agricultural produce is exported. Other major exports are wood, and mechanical and electrical equipment. About 46% of exports are non-agricultural, but the largest industry is still the food industry. Tourism is also an extremely important component of international trade: transport and travel form around 20% of the country's export trade. New Zealand does not have large quantities of mineral resources, though it does produce some coal, oil, and natural gas.
New Zealand's largest source of imports is China, followed by (in order) Australia, the United States, Japan, and Singapore. The largest destinations for exports are, in order, Australia, China, the U.S., Japan, and South Korea. Trade figures for 2011 with New Zealand's biggest trade partners are as follows:
| Country | Imports | Exports | Country | Imports | Exports |
|---|---|---|---|---|---|
| Australia | 7,377 | 10,858 | Saudi Arabia | 918 | 691 |
| China | 7,439 | 5,887 | Singapore | 2,163 | 812 |
| Germany | 1,993 | 775 | South Korea | 1,453 | 1,674 |
| Japan | 2,921 | 3,439 | Thailand | 1,330 | 731 |
| Malaysia | 1,478 | 874 | United Kingdom | 1,267 | 1,544 |
| Qatar | 1,041 | 2 | United States | 5,025 | 3,997 |
| Russia | 1,204 | 280 | Total (world) | 46,857 | 47,710 |
Read more about this topic: Foreign Relations Of New Zealand
Famous quotes containing the word trade:
“Though I have locked my gate on them
I pity all the young,
I know what devil’s trade they learn
From those they live among,
Their drink, their pitch and toss by day,
Their robbery by night....”
—William Butler Yeats (1865–1939)
“Until the end of the Middle Ages, and in many cases afterwards too, in order to obtain initiation in a trade of any sort whatever—whether that of courtier, soldier, administrator, merchant or workman—a boy did not amass the knowledge necessary to ply that trade before entering it, but threw himself into it; he then acquired the necessary knowledge.”
—Philippe Ariés (20th century)
“No king on earth is as safe in his job as a Trade Union official. There is only one thing that can get him sacked; and that is drink. Not even that, as long as he doesn’t actually fall down.”
—George Bernard Shaw (1856–1950)