Fonterra and China National Research Institute Forge Strategic Dairy Partnership
Source: The DairyNews
Fonterra, the multinational dairy giant, and the China National Research Institute of Food and Fermentation Industries have inked a pivotal agreement aimed at fortifying collaboration between the dairy industries of China and New Zealand.
The “China-New Zealand Dairy Industry Sustainable Development Strategic Cooperation Agreement,” signed on Friday, seeks to bolster exchanges in technology, quality control, management practices, and operational methodologies between the two nations' dairy sectors.
Central to this agreement is the creation of the China-New Zealand Dairy Industry Sustainable Development Joint Research Center. This initiative will prioritize the development of standards, technological innovations, product line advancements, and sustainable development principles. The partnership will also include hosting summits, facilitating joint exchanges, training programs, and conducting collaborative research projects.
On Thursday, China and New Zealand also agreed to initiate trade in services negotiations based on a negative list approach, as part of their comprehensive strategic partnership.
“China has always been a strategically crucial market for us,” stated Teh-han Chow, CEO of Fonterra Greater China. “We have enjoyed significant success in China and remain highly optimistic about its future market potential.”
As China and New Zealand mark the 10th anniversary of their Comprehensive Strategic Partnership, China is embarking on a new era of high-quality development. Fonterra pledges to support China's evolving market demands through ongoing innovation and investment in the dairy sector, Chow added.
Fonterra operates five Application Centers in China, dedicated to developing new dairy product applications and aiding customers in adapting to local market trends. A sixth center is set to open in Wuhan, Hubei province, later this year.
Spanning ingredients, food services, and consumer brands such as Anchor, Anchor Food Professionals, and NZMP, Fonterra’s presence in China is extensive. The company’s interim results for fiscal year 2024 reflect robust earnings, with profit after tax in the Chinese market rising by NZ $94 million ($57.7 million) to NZ $232 million, driven largely by improved performance in its food service channel.
“China's commitment to high-level openness continues to foster a favorable business environment for enterprises from China, New Zealand, and beyond,” Chow added. “The Chinese government's emphasis on openness and the active implementation of the upgraded China-New Zealand Free Trade Agreement create opportunities for businesses to form mutually beneficial partnerships and promote trade and economic growth, contributing to the prosperity of an open world economy.”
Central to this agreement is the creation of the China-New Zealand Dairy Industry Sustainable Development Joint Research Center. This initiative will prioritize the development of standards, technological innovations, product line advancements, and sustainable development principles. The partnership will also include hosting summits, facilitating joint exchanges, training programs, and conducting collaborative research projects.
On Thursday, China and New Zealand also agreed to initiate trade in services negotiations based on a negative list approach, as part of their comprehensive strategic partnership.
“China has always been a strategically crucial market for us,” stated Teh-han Chow, CEO of Fonterra Greater China. “We have enjoyed significant success in China and remain highly optimistic about its future market potential.”
As China and New Zealand mark the 10th anniversary of their Comprehensive Strategic Partnership, China is embarking on a new era of high-quality development. Fonterra pledges to support China's evolving market demands through ongoing innovation and investment in the dairy sector, Chow added.
Fonterra operates five Application Centers in China, dedicated to developing new dairy product applications and aiding customers in adapting to local market trends. A sixth center is set to open in Wuhan, Hubei province, later this year.
Spanning ingredients, food services, and consumer brands such as Anchor, Anchor Food Professionals, and NZMP, Fonterra’s presence in China is extensive. The company’s interim results for fiscal year 2024 reflect robust earnings, with profit after tax in the Chinese market rising by NZ $94 million ($57.7 million) to NZ $232 million, driven largely by improved performance in its food service channel.
“China's commitment to high-level openness continues to foster a favorable business environment for enterprises from China, New Zealand, and beyond,” Chow added. “The Chinese government's emphasis on openness and the active implementation of the upgraded China-New Zealand Free Trade Agreement create opportunities for businesses to form mutually beneficial partnerships and promote trade and economic growth, contributing to the prosperity of an open world economy.”
