Page 835 - MOE ENGLISH PR - MAY 2024

5/13/24, 5:06 PM UAE, New Zealand to launch comprehensive economic partnership talks
A joint declaration of intent confirming the agreement was signed by Dr. Thani bin Ahmed
Al Zeyoudi, UAE Minister of State for Foreign Trade, and Todd McClay, New Zealand’s

Minister for Trade.

The proposed CEPA reflects growing bilateral relations, with non-oil trade between the
UAE and New Zealand reaching US$764.5 million in 2023, an increase of more than 15

percent over the pre-Covid year of 2019.

The agreement will seek to boost those numbers through the removal or reduction of
tariffs and trade barriers, the improvement of market access, and the establishment of

investment pathways that will open up new opportunities in key sectors such as
agriculture, renewable energy, logistics, education, professional services and healthcare.

Dr. Al Zeyoudi stated, “New Zealand has become a valued trade partner for the UAE, one

that shares our conviction that open, rules-based trade is an essential driver of
sustainable economic growth. A Comprehensive Economic Partnership Agreement will

open up a range of exciting opportunities for both nations, with the UAE offering direct
access to new markets for New Zealand’s exports, particularly in food and agricultural

products, while our services exporters and investors will be able to explore a range of

high-value sectors. We are both eager to get started.”

McClay said, “Today’s launch of negotiations is an exciting step towards cementing a

significant trade and economic relationship. This follows the conclusion of successful

exploratory discussions, as well as public consultation, which demonstrated the
importance of pursuing a high-quality agreement to boost our economy and unlock greater

export opportunities.”

He added that an agreement with the UAE will provide new opportunities to New Zealand
exporters who “are integral to revitalising our economy, which is why the Government has

set the ambitious target of doubling exports by value within 10 years. New opportunities in
the UAE will open further commercial opportunities that will help lift domestic incomes and

reduce the cost of living."

"The UAE is a key export destination and hub in the Gulf region, and there are significant
opportunities to enhance cooperation across a range of areas, including agriculture and

sustainable energy,” he said.

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