This article shows that New Zealand is largely complying with its obligations to foreign investors who are nationals of the parties to the FTAs. The piece also indicates that security exceptions in the FTAs or the customary rule of necessity in international law even allow the country, within limits, to deviate from these obligations during the crises prompted by COVID19, if needed in the near future. Obviously, this is an assessment limited to the status quo created after the first four months of the pandemic.