18 months after a bilateral trade agreement came into effect, New Zealand's exports to Taiwan have increased by 22%.
Before the Economic Cooperation Agreement between New Zealand and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu (ANZTEC) came into effect in December 2013, goods and services exports to Taiwan were valued at 987 million NZ dollars (648.65 million U.S. dollars) a year.
Exports have since risen to 1.2 billion NZ dollars (788.64 million U.S. dollars) in the year ended June 2015.
"As of June 2015, exports of New Zealand apples to Chinese Taipei are now worth 40 million NZ dollars (26.28 million U.S. dollars), up by over 200 percent since June 2013. Apples previously had a tariff of 20% tariff, which was eliminated on entry into force," said Trade Minister Tim Groser.
Cherry exports were up 150% since 2013 and kiwifruit exports were up 24%.
"These early results are extremely encouraging and will build jobs and more opportunities, particularly in regional and provincial New Zealand," said Groser.
