Memorandum of Arrangement On Strengthening Cooperation on the Belt and Road Initiative Between The Government of the People’s Republic of China And The Government of New Zealand

Updated: March 31, 2017 Source: Belt and Road Portal
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Memorandum of Arrangement On Strengthening Cooperation on the Belt and Road Initiative Between The Government of the People’s Republic of China And The Government of New Zealand

The Government of the People's Republic of China and the Government of New Zealand (hereinafter referred to as “the Participants”), based on the aspiration for jointly strengthening cooperation and exchanges to support the Belt and Road Initiative, and deepening bilateral practical cooperation;

Considering that the Chinese side put forward the Belt and Road Initiative, aiming to carry forward the Silk Road Spirit "peace and cooperation, openness and inclusiveness, mutual learning and mutual benefit" and endow it with new impetus;

Through connectivity and mutual learning among the countries along “the Belt and Road”, and drawing on the comparative advantage and contributions of the Participants and their private sectors, the Participants will promote the exchange and integration of goods, technologies, capital and personnel, push forward coordinated economic, social, environmental and cultural development and common progress, and promote dialogue and fusion among civilizations;

Recognizing that the Participants will work together to promote mutual understanding, mutual connectivity, and develop mutual benefit, peaceful development and common prosperity of the region;

The Participants have reached the following understanding:

Paragraph I: Cooperation Objectives

The Participants will jointly promote cooperation and exchanges to support the Belt and Road Initiative.It is aimed at achieving the goal of common development, translating advantages of close political relations, economic complementarities and cultural exchanges into practical cooperation and sustainable growth, pushing for continued friendly bilateral political ties, stronger economic ties, closer people-to-people relations and greater benefit amongst the two peoples.

Meanwhile, the Participants wish to strengthen inter-regional connection to promote cooperation in transportation,economy and trade, agricultural technology,investment,technology and innovation,tourism and other areas, to advance regional peace and development.

Paragraph II: Cooperation Principles

The Participants decide that cooperation will proceed in line with the following principles:

1. Under the principles of “wide consultation, joint contribution and shared benefits”, respect each other’s interests and major concerns to deepen mutual trust.

2. Maintain and enhance existing bilateral cooperation mechanisms and multilateral mechanisms by the Participants,to enhance connection, support each other, learn from each other, display capabilities and complement each other.

3. To promote practical cooperation in the areas of mutual concern in accordance with international good practice, market orientation and professional principles.

Paragraph III: Cooperation Areas

The Participants will cooperate in the following fields of mutual concern:

1. Policy cooperation. The Participants wish to carry out senior-level dialogue and promote communication on each other‘s major development strategies, plans and policies on a regular basis, to strengthen communication and cooperation on each other’s major macro policies, to promote the connection and integration of major development strategies, plans and policies of the two countries, and how they will best support the Belt and Road Initiativein line with the comparative advantages of the Participants.

2. Bilateral mutually beneficial cooperation. Push forward economic and trade cooperation, including reaching NZ$30 billion of two-way trade by 2020 as agreed by Leaders,to upgrade and modernize the China-NZ Free Trade Agreement (2008), to expand two-way investment flows; to discuss approaches to advance substantial mutually beneficial cooperation;to actively conduct mutually beneficial cooperation in the fields of infrastructure, manufacturing, agricultural technologies, information technology and clean energy, regulatory harmonization, public financial management, and trade facilitation;to jointly ensure sound and smooth operation of major cooperation projects of the two countries.

3. Cultural exchanges. Promote friendly cooperation in the fields of education,tourism, local government, youth,and the screen sector, based on the unique advantages offered by the Film and Television Programmes Co-Production Agreements between China and New Zealand, to advance cultural exchanges and mutual learning, to create a new situation in cultural exchanges.

4. Multilateral cooperation. Enhance cooperation of international and regional mechanisms including the United Nations, the Asia-Pacific Economic Cooperation Forum (APEC), the East Asia Summit (EAS), the Asian Infrastructure Investment Bank and the Pacific Islands Forum, to promote common interests of both sides and deepen regional economic cooperation, to complement each other and achieve common development.

5. The Participants will formulate a more detailed work plan of bilateral cooperation based on the above areas as soon as possible, within 18 months of the Arrangement coming into effect.

6. Other cooperative items decided by both sides.

Paragraph IV: Settlement of Differences

Any differences in the interpretation/implementation of this Arrangement will be settled through friendly consultation.

Paragraph V: Amendment

This Arrangement will be amended by mutual written consent.

Paragraph VI: Entry into Effect and Termination

This Arrangement will take effect on the date of signing by the Participants, and will remain effective for a period of five years.

This Arrangement will be automatically renewed for one period/consecutive periods of five years thereafter, unless and until terminated by either Participant by giving written notice to the other side three months before the expiration of the Arrangement.

Paragraph VII: Others

This Arrangement only expresses the common will of the Participants to strengthen cooperation and exchanges to support the Belt and Road Initiative.

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Editor: liuyue