NZ begins phasing out duties on HK goods

PUBLISHED : Saturday, 01 January, 2011, 12:00am
UPDATED : Saturday, 01 January, 2011, 12:00am
 

Under the new closer economic partnership agreement with New Zealand, which takes effect today, import tariffs on all goods from Hong Kong will be phased out over six years and more than 90 per cent of New Zealand's tariff lines will become duty-free in two years. Hong Kong service providers will also be given advantages in New Zealand. There will be no restrictions on foreign capital, the number of service providers, value of transactions or number of employees.

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