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Manila Bulletin devider Business devider Trade & Industry devider Philippines, New Zealand explore deeper economic ties to boost trade 50%

Philippines, New Zealand explore deeper economic ties to boost trade 50%

Published Aug 12, 2026 04:06 pm
New Zealand flag (Unsplash)
New Zealand flag (Unsplash)

The Philippines is exploring potential areas for deeper cooperation with New Zealand, as both countries reaffirmed their commitment to increase bilateral trade by 50 percent by 2030.

In a statement on Wednesday, Aug. 12, the Department of Trade and Industry (DTI) said Philippine and New Zealand trade officials met on July 7 to hold the inaugural meeting of the joint economic commission (JEC) between the two countries.

The first meeting under the JEC was chaired by DTI Undersecretary Allan Gepty and New Zealand Ministry of Foreign Affairs and Trade Deputy Secretary Grahame Morton.

The meeting focused largely on potential initiatives that the Philippines and New Zealand can pursue to deepen investment and trade ties.

These include potential areas for economic cooperation, such as agriculture and market access, renewable energy (RE) and climate change, higher education, inclusive trade, and defense-related manufacturing.

Established last May, the JEC is designed to expand trade, promote investments, and facilitate economic cooperation between the two countries.

The commission will also serve as the primary platform for addressing trade and investment issues, identifying new commercial opportunities, and coordinating initiatives that can deliver tangible benefits to businesses in both countries.

The establishment of the JEC forms part of the Philippines and New Zealand’s shared goal of increasing two-way trade by half four years from now.

DTI data showed that bilateral trade between the two countries reached $628.8 million last year. Philippine exports to New Zealand stood at $103 million, while imports from New Zealand were estimated at $525.8 million.

Trade between the Philippines and New Zealand currently benefits from preferential tariff arrangements under the Association of Southeast Asian Nations (ASEAN)-Australia-New Zealand Free Trade Area Agreement (AANZFTA) and the Regional Comprehensive Economic Partnership (RCEP).

This is expected to expand further with the Philippines’ bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which counts New Zealand as one of its members.

Manila and Wellington earlier upgraded bilateral ties to a comprehensive partnership to advance shared security and economic interests, including improving trade relations.

Among its objectives is the implementation of a specific commodity understanding (SCU) for the export of New Zealand onions to the Philippines, while an export plan would be formed for Philippine fresh fruit and vegetables.

Likewise, both countries agreed to establish a policy exchange mechanism on export capability in the Philippines’ agriculture sector to expand exports beyond key products such as bananas and pineapples.

The country’s top exports to New Zealand include electrical machinery and infrastructure components, while imports from New Zealand include dairy, cheese, butter, and beef.

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Department of Trade and Industry (DTI) New Zealand
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