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9/29/24, 5:49 PM UAE and New Zealand Finalize Terms of Trade Agreement - Magazine
The UAE-NZ CEPA is set to create opportunities for economic deals across various sectors, including
technological cooperation and infrastructure investment. This partnership aims to boost bilateral
trade, encourage innovation, and foster sustainable growth for both countries. As the agreement

unfolds, it is expected to bring about positive changes in the economic landscape of the UAE and
New Zealand, paving the way for enhanced collaboration and mutual benefits in the years to come.

Key Elements of the UAE-NZ CEPA

The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and New Zealand
encompasses several key elements that aim to boost trade, investment, and cooperation between

the two nations. This agreement reflects the UAE’s commitment to future-focused diplomacy and its
efforts to enhance regional prosperity through strategic economic partnerships.

Tariff Elimination

A cornerstone of the CEPA is the significant reduction in trade barriers. Upon entry into force, the
agreement will eliminate duties on 98.5% of New Zealand’s exports to the UAE, with this figure rising

to 99% within three years. This move is set to have a substantial impact on various sectors,
particularly agriculture. For instance, the UAE will remove all tariffs on frozen beef and sheepmeat
from New Zealand immediately, while chilled products are already tariff-free. This elimination of the

current 5% tariff on frozen meat products is expected to save the sector approximately AED
2,754,097.79 annually, based on 2023 figures.

Services and Investment

The CEPA extends beyond goods to include services and investment, creating new opportunities for
economic deals and technological cooperation. The agreement provides greater certainty for New

Zealand services exporters operating in the UAE, benefiting sectors such as professional services,
education, audio-visual and gaming, engineering, and environmental services. To facilitate

investment, the CEPA includes an Investment Facilitation chapter and a separate Bilateral Investment
Treaty. These provisions aim to create a framework for broadening and strengthening the
investment relationship between the UAE and New Zealand, encouraging greater two-way

investment flows.

Sustainable Development

Recognizing the importance of sustainable growth, the CEPA incorporates chapters on sustainable
development, labor, sustainable agriculture, and climate. This aligns with the UAE’s strong interest in
environmental sustainability and provides a platform for New Zealand to showcase its

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