(VOVworld) - Two-way trade between Vietnam and New Zealand is expected to increase considerably after the double tax agreement (DTA) came into effect as of May 7, said New Zealand Minister of Revenue Todd McClay.

He added that the agreement, signed after talks between NZ Governor-General Jerry Mateparae and Vietnamese President Truong Tan Sang on August 5, 2013, helped to reduce costs and taxes on dividends, interest and franchise fees. The New Zealand government has always given priority to maintaining and expanding DTAs. New Zealand has signed a total of 39 DTAs with key trading partners and investors.