|
THE
Philippines and New Zealand are exploring the
possibility of processing
New Zealand
milk in the Philippines as part of efforts to improve
two-way trade between them.
A Palace
press statement said this was discussed by New Zealand
Prime Minister Helen Clark and President Arroyo, who is
on a 3-day visit to New Zealand.
Clark
said “there are new opportunities to be explored in the
energy and technology sectors, afforestation, and in the
development of the
Philippines’
dairy industry.” Afforestation is the conversion of open
land into a forest by planting trees.
“The New
Zealand-Australia-Asean Free Trade Agreement being
negotiated at present may help open more doors,
particularly in the areas of services and investment,”
added Clark.
The
processing of
New Zealand
milk in the Philippines would reduce the trade imbalance
that, at NZ$650 million last year, is heavily tipped in
favor of New Zealand.
The
Philippines is the fourth-biggest market of dairy
products for New Zealand, and the second-biggest market
of New Zealand’s processed milk.
Philippine exports to
New Zealand
increased to $53.06 million in 2006 from $38.86 million
in 2005, mostly in food products and electronics.
New Zealand
imports from the Philippines decreased to $271.41
million in 2006 from $276.25 million in 2005, most of
which are food items.
Last
year, New Zealand was the Philippines’ 25th-largest
trading partner, 30th export market, and 22nd import
market. |
