New Zealand has become the first developed nation to sign a free trade agreement with China.
From the NZ Foreign Ministry:
The free trade agreement aims to reduce barriers to and promote the further expansion of trade in goods, services and investment and will help New Zealand maintain competitiveness in the China market.
From the Xinhua report:
The New Zealand prime minister said the 2008 Olympics is an important opportunity for China to showcase its remarkable progress and new capabilities to the world. “New Zealand plans to send a large team to the Olympics and we hope the Games are a great success.”
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