Key confident of doubling trade with China

Published: 6:40PM Thursday July 08, 2010 Source: ONE News

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The Prime Minister has wrapped up trade talks with Chinese leaders in Beijing, confident he has a deal to work towards doubling trade between the two countries within five years.

John Key touched down in the Chinese city of Shanghai, with plans to promote New Zealand business interests, including investment.

"If we are going to achieve that objective of double those trade flows, it's going to have to happen because New Zealand has a much bigger footprint in China," he said.

Exactly how Key and his Chinese counterparts are going to do that remains unknown.

Trade was not the only topic on the agenda and investment talks were also on the cards.

"There's no question there's strategic investments they'd like to make in New Zealand - we've seen that when Haier bought into Fisher and Paykel. I made it clear investment in New Zealand is welcome if it adds value," Key explains.

However, Chinese investment in New Zealand is a sensitive topic, with much distrust of foreign ownership. Key has been careful during this trip not to directly address questions about that, clearly not wanting to stoke fears.

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