New Zealand, Japan sign trade agreement
Updated
Japan and New Zealand customs authorities signed an agreement on Wednesday to ensure safe and smooth trade.
The deal is the world's second mutual recognition framework after a pact between the United States and New Zealand was signed in Washington last June.
The latest framework was signed in Tokyo and was witnessed by New Zealand prime minister Helen Clark and Japan's finance minister Fukushiro Nukaga.
Under the arrangement around 100 Japanese and 100 New Zealand exporters are officially deemed to be low-risk operators, including major automakers, electronics manufacturers and trading houses.
The mutual recognition framework to facilitate trade was formulated after the September 11 terror attacks on the US in 2001.
