New Zealand Trade Agreements and Their Economic and Societal Impacts: A Review

Olufemi Muibi Omisakin

Abstract


Trade agreements are necessary for New Zealand because of the country’s population size and the need to grow its economy via export trade and foreign direct investment. This study reviews three of New Zealand’s trade agreements, New Zealand-Australia Closer Economic Relations (CER); New Zealand-China Free Trade Agreement (NZCFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
It presents qualitative in-depth review of the economic and social impacts of the New Zealand-Australia Trade Agreement (CER) and The New Zealand-China Free Trade Agreement (NZCFTA). It evaluates the expected economic and social contributions of The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to New Zealand’s economy and society. It concludes that CER and NZCFTA as most beneficial to New Zealand’s economy and society, CPTPP is expected to provide a market of 480 million people, 13.5% of world GDP worth US$10tn of trade expected to make greater contribution to the economy.


Keywords


Tariffs; Economic; Trade agreement; Bilateral; Multilateral

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References


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DOI: http://dx.doi.org/10.3968/10841

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