New Zealand's seafood industry is hoping the trade deal with Taiwan will help buoy weak exports back to numbers last seen in 2000 when they were worth about NZD 30 million (USD 23.4 million, EUR 17.9 million) a year to the sector.
But the full effects of the Economic Co-operation Agreement between New Zealand and Taiwan, signed on Tuesday, may not be caught by all fisheries for almost eight years.
Tariffs on 44 percent of New Zealand exports to Taiwan would be immediately eliminated by the deal, which would save New Zealand industries about NZD 40 million (USD 31.2 million, EUR 23.9 million) a year.
