Boost for free trade

The free trade agreement (FTA) China and New Zealand signed yesterday marks not only a significant achievement for the two countries to further grow their trade and economic ties. It also gives a needed boost to free trade when a US-led global slowdown adds to the danger of a resurgence of protectionism.

As the world largest developing economy, China has been actively promoting free trade in recent years. The new deal is the seventh FTAs China has signed with other countries or regions and the first one with a developed economy.

The mutual benefits of the groundbreaking free trade pact are obvious.