NZ negotiating investment protocol with Hong Kong - gateway into mainland China, Trade Minister Groser says
See the release from Trade Minister Tim Groser:
NZ launches Investment Protocol negotiations with Hong Kong
Building on the Hong Kong – New Zealand Closer Economic Partnership Agreement (CEP), substantive negotiations on an Investment Protocol will commence in Wellington in early May, Trade Minister Tim Groser said today.
A key outcome of the CEP was that New Zealand and Hong Kong would negotiate a comprehensive Investment Protocol within two years of the CEP entering into force. The Investment Protocol will provide a framework for increased investment flows between New Zealand and Hong Kong.
"As a global investment hub and gateway into mainland China, Hong Kong provides significant investment opportunities for New Zealand investors. Investment is increasingly becoming a key component of the New Zealand – Hong Kong economic relationship," Mr Groser said.
"Hong Kong is New Zealand’s eighth largest investment destination, and is the sixth largest source for inward investment into New Zealand. In 2009, New Zealand investments to Hong Kong were valued at over NZ$1.2 billion dollars – an increase of approximately 240% from 2005. There is real potential for further increased investment flows that will benefit both economies."
"A comprehensive Investment Protocol, would provide investors with a greater level of certainty and confidence and will create a reliable platform for increased investment without undermining New Zealand’s overseas investment regime", Mr Groser said.
The Ministry of Foreign Affairs and Trade is about to call for public submissions to help inform New Zealand’s negotiating position. "It is critical that New Zealand businesses and other stakeholders make their interests in Hong Kong known to the New Zealand negotiating team," Mr Groser said.