The goods can be shipped by a non-party party to the agreement and maintain preference. However, goods must not enter the trade or trade of a party or be subject to certain operations other than unloading, transshipment, deconditioning and other procedures necessary to keep the goods in good condition while they are being transported by that party. The United States and New Zealand have signed a bilateral framework agreement on trade and investment, which provides a strategic framework and principles for dialogue on trade and investment issues. New Zealand`s market-oriented economy offers many advantages to U.S. exporters and investors, and the United States is one of New Zealand`s main trading and investment partners. U.S. exports to New Zealand include aircraft, machinery, agricultural products, vehicles and optical and medical instruments. U.S. imports from New Zealand include frozen beef, casein, milk protein concentrate, wine and machinery. A number of U.S. companies have subsidiaries in New Zealand. Many work through local agents, and some are in joint ventures. U.S.
direct investment in New Zealand mainly covers the finance and insurance and manufacturing sectors, but also includes the food/agriculture, mining, professional services, transportation, energy and wholesale sectors. New Zealand`s direct investment in the United States is led by manufacturing and wholesale trade. The two countries cooperate closely in a number of international economic forums to promote free trade. They are also participating in the Trans-Pacific Partnership negotiations, which aim to develop a regional trade agreement. Ongoing negotiations for a free trade agreement between ASEAN and Asia Pacific countries continue to raise concerns among civil society organizations about the potential for negative social and environmental impacts. New Zealanders are invited to public meetings to learn more about our trade negotiation agenda. The South Pacific Regional Trade and Economic Cooperation Agreement (SPARTECA) is a non-reciprocal trade agreement in which NZ (with Australia) provides preferential tariff treatment for certain products that are the production or production of Pacific Forum countries (known as the Forum Island Countries). For NZ products exported to an Island Country Forum, there is no preferential rate.
According to the New Zealand government, the United States is New Zealand`s third largest source of direct direct investment (after Australia and Hong Kong). The total stock of U.S. direct investment in New Zealand was $11.3 billion in 2018. U.S. direct investment in New Zealand focuses on manufacturing, finance and wholesale trade. The space sector is a growth area with joint investments in Rocket Lab and LeoLabs and a new partnership offering NASA scholarships in New Zealand.