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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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