Trade Minister Tim Groser last night welcomed New Zealand's latest free trade agreement, with Taiwan, which will see the removal of tariffs on virtually all of New Zealand's exports within four year and establishes an open skies agreement.
Once the FTA is fully implemented the eliminated tariffs will equate to an annual saving of $75.8 million on the basis of current trade but the agreement is also expected to significantly lift two-way trade.
The agreement for the first time, includes a chapter on indigenous co-operation given that DNA profiling identifies Taiwan as the origin of the Maori and other Polynesians.
It includes a schedule of 132 so-called "environmental goods" which will be freely traded immediately, goods that are deemed to have a role in addressing climate change, soil, water and air pollution or has a role in management of waste and waste water.
And it includes a liberalisation in services that will allow New Zealand institutions to operate schools in Taiwan and encourages film and television co-productions.