Page 225 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 1)

9/29/24, 5:46 PM UAE, New Zealand finalise terms of CEPA
Once implemented, the UAE-New Zealand CEPA will reduce or remove tariffs, eliminate unnecessary
trade barriers, improve market access, and create new platforms for investment and private sector
collaboration with one of the world’s most globalised economies.

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Upon the conclusion of negotiations, Al Zeyoudi stated, “New Zealand is a long-standing partner of the

UAE with an economy that, like ours, is underpinned by trade and global connectivity. Our CEPA will
serve as a catalyst not only for bilateral trade but for greater exchange between the UAE and the high-
growth Asia-Pacific region, underscoring the scope and ambition of our foreign-trade agenda.

He added, "The UAE is committed to expanding opportunity for our private sector by enhancing market
access to key economies, and with its well-developed agriculture and food-production sectors, New

Zealand is a nation that holds outstanding potential across a number of industry verticals.”

McClay stated, “This CEPA will enable New Zealand exporters to participate in the UAE’s growing and
vibrant economy. Our high-quality and safe agricultural goods, our strong manufacturing sector and our
innovative services sector have a lot to offer to the UAE. We look forward to increased trade and people-

to-people links between our countries.”

The UAE’s CEPA programme and expanding foreign trade remain the cornerstone of the UAE’s
economic growth strategy. In H1 2024, the UAE’s non-oil trade in goods reached a record AED1.395
trillion, an 11.2 percent increase in foreign trade compared to H1 in 2023 and the sixth consecutive half
of foreign trade growth.

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