China

The signing of a free trade agreement (FTA) with New Zealand has become the first such trade treaty between China and a developed economy. Under the terms of the deal, New Zealand will gradually phase out all tariffs on imports from China by 2016, while in return China will remove tariffs on 96% of its imports from the Pacific nation by 2019. Bilateral trade between the two countries grew 10% in 2007 to US$5.5bn. The FTA is China's 15th, and it is currently negotiating another dozen, including with Australia, Peru and South Africa.

To read the full article, please choose one of the following options: