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| Mr. Yi Xiaozhun's portfolio covers the Department of International Trade and Economic Affairs, Department of WTO Affairs, Department of Policy Research, China International Center for Economic and Technical Exchanges, Association of International Trade and China Society for WTO Studies. |
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| Vice Minister Yi Xiaozhun's Speech in China-New Zealand FTA Workshop |
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| | From:M Article type: |
Honorable Trade Minister of New Zealand Tim Groser,
Honorable Executive Vice President of CELAP Feng Jun,
Distinguished Guests, Ladies and Gentlemen,
Good Afternoon!
I’m so glad to come to Shanghai to attend China-New Zealand Free Trade Area (FTA) Workshop in such amazing season. On the occasion of Shanghai Expo in May, I believe that all of you will be deeply impressed by new Shanghai. Meanwhile, I wish New Zealand Pavilion a great success! Here, I’d like to appreciate the gracious invitation of Trade Minister Tim Groser and hard work of China Executive Leadership Academy Pudong (CELAP) for preparing this workshop.
In April of 2008, China-New Zealand FTA Agreement was signed after 17 rounds hard negotiations lasting 3 years. It is a new milestone in the development of China-New Zealand bilateral relations and also a critical step for China to implement the strategy of FTA. This FTA Agreement is the first one for China to sign with developed countries and cover various sectors including trade in goods, services and investment. It also makes it clear to the world that the confidence and determination of the Chinese government in further expanding and deepening reforms and opening-up at the mew start in the new period.
Currently, the implement of the agreement has entered into the second year, a critical period. So, it is significant to hold the workshop today, where we could review the implementation of the mechanisms and arrangements to find out difficulties and questions in the process of implementation and solve them. It is not only beneficial for the two countries to fully review the implementation of the agreement but also beneficial for enterprises and local governments of the two countries to further understand the agreement so as to develop the cooperation potential in the future.
Now, I would like to probe into the significance of the FTA Agreement with you from three aspects:
Firstly, deepen China-New Zealand bilateral trade and economic relations by FTA Agreement.
Since the implementation of China-New Zealand FTA Agreement in October of 2008, custom duties levied on goods trade between the two countries have been decreased step by step, and the market of service has been further open and the investment environment has been more regulated and transparent. The implementation promoted the two parties to further take advantages, deepened the industrial division and boosted the mutual cooperation in agriculture, animal husbandry, forestry, home application, clothing, and promoted the development in service trade, such as education, tourism, environment and consultation.
Despite the international financial crisis and weak global market, China-New Zealand trade in 2009 amounted to US$ 4.56 billion, among which, China’s export to New Zealand was down by 16.9% and its import from New Zealand rose by 30.9%. In the first quarter of 2010, bilateral trade represents a momentum with rapid growth, with the trade of US$ 1.39 billion, up by 46.7% year on year. China’s export to New Zealand is US$ 520 million, up by 19.7% year on year. And its import from New Zealand is US$ 870 million, up by 69.7%. At present, China has become the 3rd largest trading partner, 4th largest export market and 2nd largest import source of New Zealand.
With the deepening of two-way exchanges among enterprises of the two countries, the investment is expanding. By the end of 2009, New Zealand’s investment in China has surpassed US$ 0.9 billion while China’s in New Zealand reaches US$ 82.06 million with a growth momentum. The two parties gave full play to the fields including agriculture, forestry, electrical, clothing, and deepen the mutual cooperation, especially in such new fields as medical, education and environment. Taking wine for example, China's wine import from New Zealand increased nearly by 30 times from 2001 to 2009 and by 84% in 2009. Since then, China has become the 6th largest wine export market for New Zealand. Two days ago, my colleagues told me that Chinese ChangYu Group had cooperated with Karikari Estate of New Zealand by Co-Branding in 2006. With the new brand of ChangYu Kely, ChangYu Group is the exclusively distributor for Karikari Estate. Last year, nearly 150,000 bottles of wine from Karikari went into the Chinese market, accounting for a third of New Zealand’s wine export to China.
It is proved that China-New Zealand FTA Agreement, aiming at mutual benefit and win-win outcome, is in line with the benefits of enterprises and customers of the two countries. Besides, the Agreement injects new vitality into the development of China-New Zealand trade and economic relations and vigorously improves the comprehensive cooperation with mutual benefit and win-win outcome of the two countries in 21st century.
Secondly, enhance mutual collaboration and promote the development of regional cooperation.
With the acceleration of the economic globalization and the integration of the world market, economic interdependence among countries and regions is further enhanced, regional economic cooperation and trade liberalization and investment is further developed, given which, the Chinese government actively boosted the construction of FTA. Since the signing of Framework Agreement on Comprehensive Economic Co-operation with original 10 member countries of ASEAN in 2002, China has signed 9 FTA Agreements with 17 countries and regions including Hong Kong, Macao, Chili, Pakistan, New Zealand, Singapore, Peru, and Costa Rica. With great efforts of past 8 years, China has established a FTA network covering three continents and owning a population of 2.18 billion. This network for free trade, with the GDP of US$7.44 trillion, respectively accounted for 19.3% of China’s foreign trade, 56.3% of China’s overseas investment and 56.4% of foreign investment in China.
Significantly, Asia-Pacific region is one of the most vigorous economic regions in the world; its regional cooperation mechanism presents a momentum of rapid development. Apart from APEC, the integration of East Asia created some concentric cooperation mechanisms as the core of ASEAN, including “10+1”, “10+3”, “10+6”. Meanwhile, Asia-Pacific Community and Trans-Pacific Strategic Economic Partnership Agreement are also focused by more people.
Both China and New Zealand,are important countries in Asia-Pacific region, and have common interests and aspirations in the regional cooperation despite the long distance between the two countries. Thus, in the process of boosting the regional cooperation in Asia-Pacific region, China hopes to continue cooperate and coordinate with New Zealand, respect the development and desire of members in the region, and make common efforts for the development and flourish of the region.
Thirdly, oppose trade protectionism and safeguard multilateral trading system.
In 2009, the world economy suffered the most serious challenges due to the international financial crisis. Fortunately, the global economy has begun to recover by the stimulation of macro-economic policies of countries all over the world. International Monetary Fund (IMF) predicted that, the global economy would rise by 4.25%, 0.3 percentage points more than the prediction made in the beginning of this January by the World Bank, and the economic growth of emerging and developing countries would reach 6.25%.
The world economy begins to recover despite lots of uncertainties. For example, the major developed economy is weak in independent growth and the unemployment rate remains high. In Europe, sovereign-debt crisis of some countries is more and more serious, which exacerbates the credit risk of the global financial system. Moreover, high commodity prices including crude oil and nonferrous metal restricted the recovery. Given these negative factors, the recovery of global economy appears uncertain. Particularly, some countries restart the protectionism and launch various protectionism policies for temporary benefits, which, on one hand, made the worse international trade one disaster after another, on the other hand, seriously disturbed the healthy development of multilateral trade system.
The Chinese government adheres to free trade, keeps market open and opposes trade protectionism. What’s more, China supported the recovery of the world economy by her own steady and rapid growth in economy. According to the statistics of the WTO, the actual import of the world in 2009 was down by 12.9% by the constant price in 2005, less than the decreasing margin of major developed countries and regions, including the United States and EU, 16.5% and 14.5% respectively. And China’s import rose by 2.8%, the only country whose import showed increasing in major economies. It is also proved by the trade date in the first quarter of 2010, when China’s import rose by 64.5% and export rose by 28.7%, with the trade surplus down by 76.7%. In March, China’s foreign trade presents deficit, with the value of US$ 7.24 billion. Thus, the strong domestic consumption, transparent and open trade policies of China made great contributions to the recovery of the world economy.
It is the solemn promise and practice of the Chinese government to adhere to the mutual benefit and win-win opening-up, support the development of global multilateral trade system and oppose trade protectionism so as to realize the steady and sustainable development of China’s economy. Particularly, when Doha Round Negotiation came to a deadlock so that multilateral trade system faced severe challenges, China and New Zealand should advocate free trade and promote the success of Doha Round Negotiations with the sprit of solidarity.
Ladies and gentlemen,
I understand, most of you are officials from central and western regions. Compared with developed eastern coastal areas, central and western regions have more development potential and advantages in foreign trade. It is the key subject for our local governments to expand foreign trade, promote the investment and cooperation, and strengthen the international competition of enterprises by further reforms and opening-up.
As the Chinese old saying, it won’t succeed until you plan first. I hope all officials here could take initiative in promoting and implementing the Agreement, help enterprises to take full use of preferential policies as prescribed in the Agreement so as to make enterprises and customers get benefits from it. And the Ministry of Commerce of China will constantly implement and promote the Agreement and provide more convenient services for the cooperation among enterprises of the two countries.
May this workshop succeed!
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