Page 188 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 1)

10/1/24, 2:43 PM Minister of State for Foreign Trade leads UAE Business delegation to New Zealand, Australia to expand trade relations
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 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

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