The China-New Zealand free trade agreement, China's first such with a developed economy, should be upgraded to expand two-way trade and investment, said Premier Li Keqiang when meeting with New Zealand Prime Minister Jacinda Ardern on Wednesday in Singapore.

China supports its companies to invest in New Zealand and Li called on the Oceania country to offer a fair and transparent business environment. New Zealand companies are welcome to invest in China and strengthen technological cooperation, based on strict intellectual property rights protection, Li said.

Ardern said New Zealand firmly conducts cooperation under the Belt and Road Initiative and will strengthen trade in dairy products and timber products. The two countries send a strong signal of safeguarding free trade and open markets by upgrading the current free trade pact, she said.

New Zealand is willing to enhance coordination with China in multilateral mechanisms, World Trade Organization reforms and climate change, she said.