Page 175 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 1)

focused on the economic ambitions of each country and how greater collaboration can help
achieve them. Dr. Al Zeyoudi and Minister McClay also participated in a question-and-answer
session with the National Party in New Zealand’s parliament in Wellington, highlighting both
nations’ commitment to deepening political and economic ties and exploring new private-sector
opportunities in both countries.

This was followed by a business roundtable organised to facilitate direct engagement between the
UAE delegation and leading New Zealand businesses, particularly in the agri-tech, renewable
energy, technology and logistics sectors. The UAE remains New Zealand’s largest trading partner in
the Middle East, with non-oil trade reaching US$768 million in 2023, a 16 percent increase over pre-
COVID-19 levels in 2019. The first half of 2024 continued this positive trend, with trade volume
reaching US$460.3 million, 11.5 percent more than the same period last year. The expanding
bilateral trade relationship is expected to create new opportunities across a range of sectors.

Dr. Al Zeyoudi stated: “The UAE and New Zealand share a strong commitment to building an
innovative and resilient trade relationship. Our growing ties create new avenues for businesses to
collaborate, particularly in sectors such as the green economy, supply chain management, food
security and advanced technology. We are greatly encouraged by the positive response to our visit,
not least the conclusion of terms on our proposed Comprehensive Economic Partnership
Agreement, which will elevate our relationship on all fronts.”

Hon. Todd McClay, New Zealand’s Trade Minister, commented: “We welcome this new phase in our
relationship with the UAE. The deepening trade ties between our nations provide a robust
framework for fostering growth and prosperity for both countries.”

Dr Thani also visited Australia, where he held talks with Hon. Don Farrell, Australia’s Minister for
Trade and Tourism. The ministers discussed the timelines for signing and implementing the CEPA
between their two nations, the negotiations for which concluded in earlier in September, and to
begin the process of aligning their respective customs departments.

Dr Thani also addressed a business roundtable in Melbourne, where private-sector representatives
reviewed sectors of maximum opportunity, including food security, renewable energy, mining,
logistics and tourism.

Strengthening relations with the broader Oceania region will support regional supply chain
resilience and promote sustainable development. The CEPAs with Australia and New Zealand will
help the UAE achieve its target of AED4 trillion (US$1.1 trillion) in non-oil trade by 2031.

Dr. Al Zeyoudi was accompanied by a UAE delegation that included Rashed Abdulkarim Al Blooshi,
Undersecretary of the Abu Dhabi Department of Economic Development; Ahmed Khalifa Al
Qubaisi, CEO of the Abu Dhabi Chamber of Commerce & Industry; as well as senior officers from
Dubai Chambers, Sharjah Chamber of Commerce & Industry, Etihad Airways and DP World
alongside other representatives from the UAE business entities and investors. (ANI/WAM)

https://theprint.in/world/minister-of-state-for-foreign-trade-leads-uae-business-delegation-to-
new-zealand-australia-to-expand-trade-relations/2288931/