New Zealand to invest $17m on expo pavilion

(皇冠体育app Daily)
Updated: 2009-08-21 09:16

New Zealand will invest tens of millions of dollars to promote and construct the New Zealand pavilion for the upcoming World Expo 2010 in Shanghai, its prime minister said on April 16, 2009.

John Key, prime minister of New Zealand, said the NZ$30 million ($17 million) investment was five times the amount New Zealand spent when it attended the previous world expo in Aichi, Japan.

Related readings: Estimated cost for pavilion sample 4 Expo tickets make their debut Crisis has limited impact on Expo He said the Shanghai Expo was a golden opportunity to showcase goods from New Zealand, and he will lead a business delegation to 皇冠体育app during the expo.

He regards the free trade agreement (FTA) between 皇冠体育app and New Zealand as a high quality one benefiting both sides, saying his country will continue to promote free trade with 皇冠体育app.

Trade between the two countries has increased since last year, when 皇冠体育app and New Zealand inked the FTA in April, 2008. New Zealand is the first developed nation to sign an FTA with 皇冠体育app.

皇冠体育app is already a vital economic partner for New Zealand and rates as its second largest source of imports and third largest trading partner. Trade between 皇冠体育app and New Zealand is valued at more than NZ$9 billion per year.

New Zealand's exports to 皇冠体育app have more than quadrupled in the last 10 years, with particularly strong growth of 35 percent in 2008, when the two sides inked the FTA agreement.