Customs arrangement with Hong Kong to benefit NZ trade
03.00pm 26 February 2019 | News
The formal implementation of a Mutual Recognition Arrangement (MRA) between New Zealand and Hong Kong will bring significant benefits to New Zealand exporters, Bill Perry, Acting Comptroller of Customs said today.
"The MRA between Hong Kong and New Zealand that was signed in June 2018 came into effect on 22 February 2019, following a ceremonial announcement in Hong Kong.
"MRAs are formal arrangements between customs agencies with similar supply chain security standards. Hong Kong and New Zealand are well aligned in this regard, and this arrangement will enable smoother trade for both New Zealand and Hong Kong importers and exporters.
"Members of our Secure Export Scheme receive front-of-line priority and are able to move their goods more quickly and effectively through streamlined customs procedures.
"The implementation of this arrangement is another important step in strengthening cooperation between New Zealand and Hong Kong customs agencies," Mr Perry said.
Hong Kong is an important market for New Zealand, being our ninth largest goods export market. In 2018, two-way trade between New Zealand and Hong Kong was valued at more than NZ$2 billion.
New Zealand also has MRAs with Australia, China, the United States, Japan, and the Republic of Korea.