(a) strengthening their trade and economic relations; The goods can be shipped by a non-party party to the agreement and maintain preference. However, goods must not enter the trade or trade of a party or be subject to certain operations other than unloading, transshipment, deconditioning and other procedures necessary to keep the goods in good condition while they are being transported by that party. Recognizing the importance of good corporate governance and the need for a predictable, transparent and consistent business environment that allows businesses to freely trade, use resources effectively, and make investment and planning decisions with certainty; and unless otherwise stated, this chapter applies to the trade of all products of the same party. Recognising the importance of trade liberalization and an external approach to trade and investment in order to strengthen economic relations between them; The Enhanced Economic Partnership Agreement between New Zealand and Hong Kong,China (NZ-HKC CEP) was signed on 29 March 2010 in Hong Kong and came into force on 1 January 2011. The agreement allows products exported from Hong Kong, China, to receive preferential tariff treatment upon importation into the NZ. Currently, all those who are imported into Hong Kong, China, are duty free, regardless of their origin. The agreement ensures that in the future, New Zealand goods imported into Hong Kong will remain duty-free in China. The South Pacific Regional Trade and Economic Cooperation Agreement (SPARTECA) is a non-reciprocal trade agreement in which NZ (with Australia) provides preferential tariff treatment for certain products that are the production or production of Pacific Forum countries (known as the Forum Island Countries). For NZ products exported to an Island Country Forum, there is no preferential rate. New Zealand`s economy is a market economy heavily dependent on international trade, particularly with Australia, the United States of America, China and Japan.
It is highly dependent on tourism and agricultural exports and has only small manufacturing and high-tech components. Market economic reforms in recent decades have removed many barriers to foreign investment, and the World Bank has made New Zealand the most business-friendly country in the world . Regional and bilateral free trade agreements have become an important part of New Zealand`s international trade policy. New Zealand has used free trade agreements, also known as closer economic partnerships, to liberalize trade between economies. A closer economic partnership agreement with Thailand was negotiated in 2004 and implemented in 2005. Negotiations for a free trade agreement with Chile, Brunei and Singapore, known as the Trans-Pacific Strategic Economic Partnership, were concluded in 2005. Negotiations on other agreements with Malaysia began in 2006, but could not be concluded. The historic free trade agreement with China was signed in Beijing in April 2008.  Free trade agreements (FTAs) support NZ traders (exporters and importers) by improving access to partner markets and removing trade barriers (e.g. (B) customs procedures) in these markets. The Agreement between New Zealand and Singapore on a Closer Economic Partnership (ANZSCEP), which came into force for the first time on 1 January 2001, has been revised by the protocol amending the closer economic partnership agreement between New Zealand and Singapore.
This protocol comes into force on 1 January 2020 and contains updated provisions for rules of origin. In particular, the 40% ex-works Cost Area Content Rules (and associated quality control and verification rules) will be replaced by a timetable for product-specific rules (PSR).