Global Biz

NZ to launch investment negotiations with HK

(Xinhua)
Updated: 2011-04-19 10:09

WELLINGTON - Negotiations between New Zealand and China's Hong Kong Special Administrative Region on an investment protocol will start next month, New Zealand Trade Minister Tim Groser said Tuesday.

The negotiations would build on the Hong Kong-New Zealand Closer Economic Partnership Agreement (CEP), he said. The protocol would provide a framework for increased investment flows between New Zealand and Hong Kong.

"As a global investment hub and gateway into Chinese mainland, 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," Groser said in a statement.

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 1.2 billion NZ dollars ($950 million) - an increase of approximately 240 percent from 2005.