Trade & Tourism Data Underline China's Importance

Trade and Tourism Data Underline the Importance of China

Recent trade and short term visitor data released by Statisitcs New Zealand underline the growing importance of China to the New Zealand economy according to the Wellington Regional Chamber of Commerce.

“Figures released today showing that China has just overtaken Japan and is now New Zealand’s fourth largest sources of visitors come on top of figures earlier in the week showing strong growth in New Zealand’s two-way trade with China,” said Chamber CEO Charles Finny.

“The figures come just ahead of the historic signing of a Free Trade Agreement about to be signed with China, and they emphasise how valuable that agreement will be to New Zealand.

“It is highly likely that we will see further growth in the trade and business relationship with China.

“The growth in visitor numbers in particular emphasise the importance of the services sector and it is hoped that there is a comprehensive services agreement incorporated within the FTA.

“The figures also provide another wakeup call for New Zealand’s trading relationships with Japan and the US. China is now New Zealand’s second largest source of imports. It has already supplanted Japan and is rapidly moving to supplant the US on our list of overall trade partnerships.

“While the growing trading relationship with China is welcomed, we must not neglect the US and Japan, the world’s first and second largest economies.

“The Japan New Zealand Partnership Forum, to be held in Tokyo on May 2008 and organised by the International Business Forum of which the Chamber is an active member, is well timed.

“Likewise the Chamber believes the participation of the US in the P4 process could not be better news,” Mr Finny concluded.

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