Page 214 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 1)

9/29/24, 5:44 PM UAE and New Zealand conclude Cepa talks to boost economic ties | The National
“This Cepa will enable New Zealand exporters to participate in the UAE’s growing and

vibrant economy,” New Zealand Trade Minister Todd McClay said. “Our … agricultural

goods, our strong manufacturing sector and our innovative services sector have a lot to

offer to the UAE.”

New Zealand exports dairy products as well as industrial products, meat, horticulture and

travel services to the UAE, while importing plastics, carpets, travel services and glass

from the Gulf nation.

The announcement comes as the UAE continues to strengthen its trade ties with countries

around the globe to boost non-oil foreign trade.

Earlier this month, the UAE concluded talks with Australia, and plans to hold negotiations

with Japan to finalise a Cepa.

In addition to increased trade flows, the UAE-New Zealand Cepa is also projected to

increase investment between the two countries.

The UAE’s investments in New Zealand passed $170.2 million in 2021, while foreign

direct investment from New Zealand to the UAE rose to $74.2 million, according to the

UAE's Ministry of Economy.

The latest trade deal also includes chapters on intellectual property, sustainable

development, labour, sustainable agriculture, climate, and indigenous trade, according to

New Zealand’s Foreign Affairs and Trade Ministry.

It also includes new commitments “which will provide greater certainty for New Zealand

services exporters when operating in the UAE”, it said.

Cepas aim to reduce tariffs and remove bottlenecks that hamper trade with other countries.

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