business

China, New Zealand sign upgrading protocol of free trade deal

BEIJING, Jan. 26 (Xinhua) — China and New Zealand on Tuesday signed a protocol on upgrading their 12-year-old free trade agreement (FTA), which is expected to bring more benefits to the peoples of the two countries.

Chinese Minister of Commerce Wang Wentao and his New Zealand counterpart signed the protocol via video link.

In 2008, China signed an FTA with New Zealand, the first FTA between China and a developed country.

On the basis of the Regional Comprehensive Economic Partnership, China will further expand its opening-up in sectors including aviation, education, finance, elderly care, and passenger transport to New Zealand.

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