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Factbox: Key points of China, New Zealand upgraded free trade deal

WELLINGTON (Reuters) - China and New Zealand signed a deal to upgrade their existing free trade pact on Tuesday, which will give commodities exports from the Pacific nation increased access to the world’s second-largest economy.

Here are some details of the agreement:

-- Reduced compliance costs for New Zealand exports, including simplified documentation requirements and dedicated contacts for New Zealand businesses at key ports in China.

-- Expanded market access for services exporters and most-favoured nation commitments to protect competitive advantage in China.

-- Commitments to promote environmental protection and not to lower standards for a trade or investment advantage. Commitments not to use environmental standards for trade protectionist purposes.

-- Tariff-free access for about 99% of New Zealand’s nearly NZ$3 billion ($2.15 billion) wood and paper trade to China, phased tariff elimination on additional wood and paper products worth NZ$35 million.

-- Benefits for exporters of perishable goods such as seafood, the forestry sector, and other primary sector industries.

-- Services sectors that will benefit from new or enhanced market access commitments include advertising, education and aviation-related services.

-- New market access for sectors such as audio visual and environmental services.

-- Existing conditions remains for dairy exports, with all safeguard tariffs to be eliminated within one year for most products, and three years for milk powder.

-- Rules on overseas investment and the Treaty of Waitangi exception, remain in place.

-- Increased visa quotas for Chinese language teachers and tour guides in New Zealand.

-- Parliament will now consider the agreement for ratification before it enters into force.

Reporting by Praveen Menon; Editing by Sam Holmes

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