The United States and New Zealand have signed a bilateral trade and investment framework agreement, providing a strategic framework and principles for dialogue on trade and investment issues. New Zealand’s market-led economy offers many benefits for U.S. exporters and investors, and the United States is one of New Zealand’s top trade and investment partners. U.S. exports to New Zealand include aircraft, machinery, agricultural products, vehicles, and optic and medical instruments. U.S. imports from New Zealand include frozen beef, caseins, milk protein concentrate, wine, and machinery. A number of U.S. companies have subsidiary branches in New Zealand. Many operate through local agents, and some are in association in joint ventures. U.S. direct investment in New Zealand is mostly in finance/insurance and manufacturing but also includes the food/agriculture, mining, professional services, transportation, energy, and wholesale trade sectors. Reported New Zealand foreign direct investment in the United States is led by the manufacturing and wholesale trade sectors. The two countries work closely to promote free trade in a number of international economic forums. They also participate in the Trans-Pacific Partnership negotiations that seek to develop a regional trade agreement.