Thailand and New Zealand Closer Economic Partnership (TNZCEP) was signed on April 19, 2005, and came into effect on July 1, 2005. The Agreement covers the liberalization of market access for goods, services, and investment, as well as cooperation in trade-related such as customs procedures, electronic commerce, intellectual property, government procurement, and competition policy.

Exports from Thailand and New Zealand will receive preferential tariff treatment under this Agreement only on the condition that the goods that meet agreed-upon conditions of the 'country of origin' requirements for each product. The conditions comprise:

goods that are composed of completely domestic components (wholly obtained) such as mineral ore, agricultural produce, and products from domestic live animals; or

products that have undergone substantial transformation through processing, resulting in a change of tariff classification, and that have a significant regional value content of Thai and New Zealand components (40%-45% of the cost of the product) in their production

In addition, such goods are required to meet direct consignment rules and other applicable requirements in the Rules of Origin under Thailand-New Zealand Closer Economic Partnership Agreement (TNZCEPA).