NEW ZEALAND, Wellington. New Zealand has struck a six-month agreement with China to supply top restaurants and retailers with chilled meat, in a deal potentially worth millions of dollars to the economy.
New Zealand’s Minister for Primary Industries Nathan Guy and Trade Minister Todd McClay signed the memorandum of understanding to export chilled beef and lamb to China on a six-month trial. Government ministers called the deal a “big win” for meat producers.
Trade Minister Todd McClay said the initial deal had the potential to generate hundreds of millions of dollars in revenue for New Zealand’s farmers, exporters and the economy. Last week New Zealand launched a new export strategy, Trade Agenda 2030, to target ways to maximise economic value from existing trade agreements.
The memorandum between New Zealand and China will help see two-way trade between the two countries generate $21 bn. cumulatively by 2030. China is New Zealand’s second-largest market for beef, behind the United States, and its top market for sheepmeat exports. New Zealand’s government estimates trade with China has increased five-fold since 2011.
A deal that will see China export retail-ready unpeeled onions has also been signed between the two parties. A pact on strengthening cooperation in the fishing industry was also signed, in addition to the launch of a list of projects under the Agricultural Growth Partnership – a deal signed in 2016 by the two countries.