Page 177 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 1)

10/1/24, 2:42 PM Minister of State for Foreign Trade leads UAE Business delegation to New Zealand, Australia to expand trade relations
important new avenues for trade and investment between the two countries.

While in New Zealand, Dr. Al Zeyoudi held a number of meetings with senior
officials, including Hon. Todd McClay, Minister for Trade, and Hon. Nicola Willis,
Minister of Finance. The discussions 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

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