New Zealand's red meat sector says the upgrade of the free trade agreement between New Zealand and China will help further streamline trade between the two countries.
The upgrade would simplify export procedures, remove a level of administration and paperwork, and reduce compliance costs for red meat exporters, Sirma Karapeeva, chief executive of the Meat Industry Association (MIA) said in a statement.
MIA anticipated a reduction in the time exporters spent waiting for goods to clear customs, along with enhanced transparency and predictability for businesses.
"Which is great news for New Zealand's largest manufacturing sector and farmers," Karapeeva said.
"The strategic value of an FTA upgrade with New Zealand's largest trading partner cannot be underestimated, and this agreement highlights a deepening of our bilateral relationship with China."
Meanwhile Sam McIvor, chief executive of Beef + Lamb New Zealand, congratulated Minister of Trade and Export Growth Damien O'Connor and the negotiating team.