Summary
New Zealand's ambassador to China, Jonathan Austin, says APEC must recommit to an open, rules-based and predictable trading system as the global trade landscape changes profoundly. China is New Zealand's biggest trading partner – exports to China in a single day equal a full year's exports to Sweden. Wellington is negotiating an upgrade to the bilateral services trade agreement with Beijing and hopes to conclude it by year-end.
The 2026 APEC Economic Leaders' Meeting is scheduled for Shenzhen.
Commentary
The ambassador's point that one day's exports to China match a year's exports to Sweden underscores how concentrated the Chinese market has become for New Zealand. For local SMEs, a services trade upgrade concluded this year could bring institutional gains in education, tourism and professional services – such as mutual recognition of qualifications and easier visa arrangements. Caution is warranted, however, as China's services sector has typically liberalised in gradual steps, so firms need to practical market access under the negative list.
While an APEC reaffirmation of the rules-based system would ease policy uncertainty, geopolitical rifts remain, and over-reliance on a single market continues to be a risk. A prudent approach is to leverage New Zealand's CPTPP and RCEP membership to preserve regional diversification while expanding services exports to China. SMEs should track the negotiation text on cross-border data flows and payment settlement closely, as these will determine the viability of light-asset ventures such as online education and digital services.
Keywords: APEC, New Zealand, international trading system, Jonathan Austin, NZ-China trade, open co-operation, services trade, China
Source: Tencent News
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