China, New Zealand conclude FTA upgrade talks: MOC

BEIJING, Nov. 4 (Xinhua) -- China's Ministry of Commerce (MOC) Monday announced the conclusion of negotiations on upgrading the existing Free Trade Agreement (FTA) between China and New Zealand.

In 2008, China signed an FTA with New Zealand, the first FTA between China and a developed country, according to the MOC.

The two countries launched talks on upgrading the FTA in November 2016, against the backdrop of profound changes in international trade rules and activities.

The upgrade is expected to reflect the rapid and dynamic development needs of bilateral economic and trade relations and further promote the process of regional economic integration, according to the MOC.