The deal shows “the gate on the New Zealand-China free trade agreement swings both ways,” a Federated Farmers official said. Natural Dairy, formerly China Jin Hui Mining Corporation, agreed to buy four farms in New Zealand and is in talks for 24 more as part of a NZ$1.5bn (US$1.1bn) expansion in the world’s biggest dairy exporter.
New Zealand on Monday hit back at a group of 30 U.S. senators who accused the country's dairy industry of anticompetitive practices, as a first round of talks ended for a free trade agreement.
Many New Zealanders simply don't understand the brazenness and the power of the industry lobby groups in America to influence their government and get involved in foreign affairs.
Prime Minister John Key said the NZ-US free trade agreement could not go ahead if the powerful US dairy lobby succeeded in excluding agriculture from the terms of the agreement.
Talks begin in Melbourne today to lift what began as a 2001 pact between New Zealand and Singapore to a powerful "new generation" regional free trade deal that the United States has made a top trade priority.
If New Zealand wants a free trade agreement with the European Union it will first have to explain what is in it for Europe, a senior EU trade official says.