New Zealand does not have a Free Trade Agreement (FTA) with the United States.
New Zealand is working with partners in the Indo-Pacific region to develop a future focused economic cooperation framework, covering a range of priority economic and trade issues. The Indo Pacific Economic Framework for Prosperity (IPEF) covers new ground on modern issues such as the digital economy and accelerating climate action. In late May 2023, the 14 partners of the Indo-Pacific Economic Framework for Prosperity (IPEF) - Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, the United States, and Vietnam – announced the conclusion of a first-of-its-kind international IPEF Supply Chain Agreement. The proposed Agreement aims to increase the resilience, efficiency, productivity, sustainability, transparency, diversification, security, fairness, and inclusivity of their supply chains through both collaborative activities and individual actions taken by each IPEF partner.
By 2030, New Zealand aims to have FTA arrangements to cover 90 percent of NZ goods exports. Free Trade Agreements currently in force are:
- Regional Comprehensive Economic Partnership: builds on creating new opportunities for trade in the Asia-Pacific region.
- Digital Economy Partnership Agreement: a new digital trade partnership between New Zealand, Chile and Singapore.
- PACER Plus: is an agreement connecting the Pacific region through trade and development.
- Since 1983, New Zealand and Australia have traded through a Closer Economic Relationship (CER), which is a free trade agreement eliminating all tariffs between the two countries. The rules of origin under the CER do not, however, permit products to enter Australia duty free from New Zealand unless the products are of at least 50 percent New Zealand origin. Additionally, the last manufacturing process must be carried out in New Zealand.
- New Zealand concluded a Closer Economic Partnership (CEP) agreement with Singapore that entered into force on January 1, 2001.
- New Zealand concluded a concluded a CEP agreement with Thailand that entered into force on July 1, 2005.
- New Zealand concluded an FTA with China that entered into force on October 1, 2008.
- New Zealand and Malaysia signed an FTA October 26, 2009 which entered into force in January 2016.
- New Zealand concluded a CEP with Hong Kong, which entered into force on January 1, 2011.
- New Zealand concluded an FTA with Korea in 2014 and the FTA entered into force on 20 December 2015.
- New Zealand signed an FTA involving 11 countries in the Asia-Pacific region, including Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore and Vietnam called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
- New Zealand has negotiated an FTA with the United Kingdom which entered into force on May 31, 2023.
- New Zealand’s latest FTA was signed on July 9, 2023 with the Economic Union. The agreement is anticipated to enter into force in the first half of 2024.
- New Zealand continues to engage in negotiations to conclude new FTA’s.