<P> New Zealand is party to several free - trade agreements (FTAs) worldwide . </P> <P> The Economy of New Zealand is a market economy which is greatly dependent on international trade, mainly with Australia, the United States of America, China and Japan . It is strongly dependent on tourism and agricultural exports, and has only small manufacturing and high - tech components . Economic free - market reforms of the last decades have removed many barriers to foreign investment, and the World Bank has praised New Zealand as being the most business - friendly country in the world . Regional and bilateral free trade agreements have become an important part of New Zealand's international trade policy . New Zealand has used free trade agreements also known as closer economic partnerships to liberalise trade between economies . A Closer Economic Partnership Agreement with Thailand was negotiated in 2004 and implemented in 2005 . Negotiations for a Free Trade Agreement with Chile, Brunei and Singapore known as the Trans - Pacific Strategic Economic Partnership were concluded in 2005 . Negotiations for further agreements with Malaysia were undertaken in 2006, but failed to reach a conclusion . The historic FTA with China was signed in Beijing in April 2008 . </P>

Australia's free trade agreement with new zealand