China and New Zealand Reach the Latest Trade Agreement

China and New Zealand Reach the Latest Trade Agreement

On Tuesday (26th), China and New Zealand signed an advanced version of the trade agreement. According to the agreement, nearly 99% of New Zealand’s exports to China, including timber, paper, seafood, and dairy products will be subject to either lower, or even exemption from tariffs. The customs visa application procedure will also be simplified. In addition to the convenience of goods exported to China, New Zealand’s service industries, including aviation, finance, and will also be allowed to enter the Chinese market in the future. In return, New Zealand will issue more visas for Chinese teachers to teach locally, and loosen the regulations on Chinese tour guides to work locally. The agreement has been passed to the New Zealand Parliament for approval.

Italian Prime Minister Announces His Resignation

Italian Prime Minister Conte announced his resignation in a cabinet meeting on Tuesday and sought authorization from President Mattarella to reform a new government with broad support from Congress to avoid the potential political crisis of dissolving Congress and re-election. Earlier this month, the Italia Viva Party, led by former Prime Minister Renzi, announced its withdrawal from the coalition government, mainly due to dissatisfaction with Conte’s response to the epidemic, causing the ruling coalition to lose the majority of seats in the parliament and triggering a political crisis.