A new free-trade deal between New Zealand, Chile, Singapore and Brunei offers significant gains for exporters, says Prime Minister Helen Clark.
The agreement is expected to start in January 2006 and eliminate all tariffs between the countries by 2017.
From its start date, tariffs on 90 per cent of New
Zealand goods going to Chile and 92 per cent of goods going to Brunei will be eliminated.
All exports to Singapore already enter duty free under an existing agreement with New Zealand.
Helen Clark said the four-country agreement was New Zealand's first with a Latin American country and its reach - linking the South Pacific with Latin America and Asia - was of strategic importance.
"The real strength of this partnership agreement lies in the bridges it forges across the Pacific," she said.
"I expect to see this agreement grow in the future - as we have already witnessed with Brunei joining in part way through the negotiating process."
Helen Clark said the nations had also agreed to promote sound labour policies and environmental quality.
Negotiations on the deals were concluded this week at an Asia-Pacific Economic Co-operation (Apec) forum meeting of trade ministers in South Korea, attended by Trade Minister Jim Sutton.
But Council of Trade Unions president Ross Wilson said there were big risks in the trade deal.
The CTU had not been assured of adequate protection for public services and the weak wording of the labour memorandum was disappointing.
Meat and Wool New Zealand welcomed the deal, but said achieving comprehensive liberalisation of agricultural trade through the World Trade Organisation's Doha Round should remain the Government's number one priority.
New Zealand has also recently concluded a free-trade agreement with Thailand and is currently involved in talks with China.
- NZPA
