Page 183 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 1)

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10/1/24, 2:42 PM Minister of state for foreign trade leads UAE business delegation to new Zealand, Australia to expand trade relations - Times of India

Minister of state for foreign trade leads UAE business

delegation to new Zealand, Australia to expand trade

relations

ANI / Updated: Sep 29, 2024, 14:38 IST SHARE AA FOLLOW US

Dr. Thbin Ahmed Al Zeyoudi, UAE's Minister of State for Foreign Trade, led a high-level business delegation to
New Zealand and Australia to strengthen economic ties. The visit resulted in concluding a Comprehensive
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Economic Partnership Agreement with New Zealand and discussions on similar agreements with Australia. Key

Dr. Thbin Ahmed Al Zeyoudi, Minister of State for

Foreign Trade, has concluded a successful visit to New Zealand and Australia, where he led a high-
level UAE business delegation to strengthen economic ties.

The visit culminated in the conclusion of negotiations for a Comprehensive Economic Partnership

Agreement (CEPA) between the UAE and New Zealand, which will open 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.