1 Dec 2010

NZ signs tax deal with Hong Kong

1:14 pm on 1 December 2010

Hong Kong and New Zealand have signed a tax agreement that will help give certainty to businesses operating in both countries.

Hong Kong Financial Secretary John Tsang and New Zealand Finance Minister Bill English signed the agreement in Auckland on Wednesday.

Speaking to a business audience, Mr Tsang said the agreement will reduce tax impediments to cross-border trade and investment between the two countries.

Hong Kong is New Zealand's ninth largest export market, worth $850 million a year.

In the first half of this year, Hong Kong's GDP increased by about 7%, thanks largely to strong domestic demand and exports to mainland China.