The comprehensive economic partnership agreement between the UAE and New Zealand enters into force
Abu Dhabi, August 27 / WAM / The comprehensive economic partnership agreement between the UAE and New Zealand entered into force, to form a qualitative shift in trade and investment relations between the two countries.
The agreement was signed in January 2025, to set a framework for enhancing economic cooperation in various sectors and is expected to contribute to increasing the value of non -oil -oil trade to more than 5 billion dollars annually by 2032, compared to an annual average of $ 1.5 billion during the period from 2019 to 2023.
The agreement will work to cancel or reduce customs duties, facilitate customs procedures, and enhance the private sector cooperation. This agreement is the first of its kind for New Zealand with a country in the Middle East region, which represents a strategic step in consolidating its economic relations with the region.
On this occasion, His Excellency Dr. Thani bin Ahmed Al -Zyoudi, Minister of Foreign Trade said that entering the comprehensive economic partnership agreement between the UAE and New Zealand is an important station in the march of the two friendly countries, as it enhances innovation and sustainable growth in a way that serves common interests, especially since this agreement is not limited to strengthening trade relations, but also opens new prospects for investment and private sector cooperation in vital sectors such as food production, education, and education, Renewable energy and advanced techniques.
For his part, His Excellency Tod Tod McLay, Minister of Trade and Investment in New Zealand, said that this agreement is a turning point in the history of New Zealand trade. Besides the opportunities it provides for our producers and investors, it reflects a common commitment to sustainable growth and we are looking to deepen our partnership with the UAE in the most important sectors of the peoples of the two countries, starting with food and energy to innovation and education.
Under the agreement, New Zealand will give 100% customs exemption on imports coming from the UAE, while the UAE will give 98.5% exemption on New Zealand products and this comprehensive agreement reflects the two countries’ commitment to enhance their economic relations and maximize common benefits.
The comprehensive economic partnership agreements program is a pivotal part of the UAE Foreign Trade Strategy, aimed at reaching the total value of trade to 4 trillion dirhams by 2031.
Since its launch in September 2021, the program has succeeded in concluding agreements with 28 countries, which strengthens trade relations and opened markets for Emirati companies that reach nearly a quarter of the world’s population.
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