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2.12. New Zealand, a founding Member of the WTO, is actively engaged in the work of the organization. During the review period, it continued to contribute to the activities of its committees, and participated in negotiations, monitoring functions, dispute settlements, and plurilateral initiatives. New Zealand also took leadership roles as chairs of WTO bodies, including the General Council in 2020, and promoted discussions on new issues as a co-sponsor of initiatives or proposals dealing with, for example, climate and the environment (e.g. fossil fuel subsidy reform); (...). New Zealand is part of the Friends of MSMEs group, and a founding member of the Friends of Fish group, comprising WTO Members seeking to complete negotiations on rules regarding fisheries subsidies. (...)

2.13. (...) It [New Zealand] has also participated in the negotiations for an Environmental Goods Agreement, which were launched at the WTO in 2014, but have been stalled since 2016 when the last round of negotiations took place. (...)

[New Zealand – Republic of Korea (2015)]
2.21. The Agreement also covers services, investments, government procurement, intellectual property rights, competition, environment, labour, and SMEs. In services, commitments are similar to those taken under the CPTPP. In investments, commitments include the establishment of an Investor-State Dispute Settlement mechanism.

[Pacific Agreement on Closer Economic Relations Plus (2017)]
2.25. (...). The Agreement also includes an industry development provision under which the Pacific Islands Forum (PIF) parties may delay the implementation of their scheduled reductions or increase duties to support the establishment or expansion of a new or existing industry, or to support an industry destroyed or substantially damaged as a result of hostilities or natural disasters. (...)

2.28. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) incorporates by reference most of the provisions of its predecessor, the Trans Pacific Partnership (signed but not in force). It includes commitments in trade in goods and services, and intellectual property, as well as in areas not covered or with limited coverage under WTO Agreements, such as investments, government procurement, labour, environment, competition, e-commerce, and SMEs. (...)

2.35. New Zealand and China upgraded their FTA of 2008 through a protocol signed on 26 January 2021. The Protocol was ratified by the Parties in February 2022 and is expected to enter into force in April 2022. The upgraded FTA will include four new chapters – government procurement, competition policy, electronic commerce, and environment and trade (...)

2.36. In May 2019, the Parties to the ASEAN Australia-New Zealand FTA (AANZFTA) (2010) launched negotiations to upgrade it. Negotiations will focus on updating provisions in the following areas: rules of origin, customs procedures, services, electronic commerce, investment, competition, government procurement, and trade and sustainable development. (...)

2.39. (...). In 2020, APEC members further adopted the APEC Putrajaya Vision 2040, which builds on the Bogor goals and sets further targets for the region for the next 20 years. Under this plan, APEC members aim to achieve an "open, dynamic, resilient and peaceful Asia-Pacific community by 2040" for the prosperity of their inhabitants [54]. (...) [54] APEC (2020), 2020 Leaders' Declaration, APEC Putrajaya Vision 2040, 20 November. The Putrajaya Vision 2040 is based on three economic drivers: trade and investment; innovation and digitalization; and strong, balanced, secure, sustainable, and inclusive growth.

Box 2.1 Selected reforms simplifying New Zealand's foreign investment regime
(...)
 Simplification of the benefit test (2021). Overseas persons who seek to acquire sensitive land or fishing quota must prove that the investment will, or is likely to, benefit New Zealand. Under this test, the Overseas Investment Office (OIO) compares the current situation to the situation with the proposed investment with respect to several benefit criteria. The reform of 2021 clarified the comparison analysis and streamlined the process by reducing the number of criteria used for this analysis from 21 specific factors to 7 broad categories of factors, providing the OIO with more flexibility when assessing the benefits of an investment. Currently, the seven categories used for this analysis refer to economic, environmental, and any other consequential benefits resulting from the proposed investment, as well as to the effects of the investment on public access in the case of land, the protection of historic heritage, government policy, and participation by New Zealanders.

3.42. New Zealand Customs Service (NZCS) also collects: (...); (ii) a synthetic greenhouse gas (goods) levy on goods containing hydrofluorocarbons (HFCs) and perfluorocarbons (PFCs) under the Climate Change Response Act 2002 and the Climate Change (SGG Levies) Regulations 2013 on behalf of the Ministry for the Environment at various rates ; (...)