New Zealand and UAE Forge Stronger Economic Bonds with Launch of FTA Negotiations

Last Updated on May 8, 2024 7:40 am

In a bid to solidify their economic ties and foster greater collaboration, New Zealand and the United Arab Emirates (UAE) have embarked on negotiations for a Comprehensive Economic Partnership Agreement (CEPA). This landmark move signifies a strategic partnership aimed at enhancing trade relations between the two nations.

The commencement of negotiations was announced following a meeting between New Zealand’s Minister for Trade, Todd McClay, and UAE’s Trade Minister, Thani bin Ahmed Al Zeyoudi, held in Dubai. Both parties expressed optimism about the potential benefits this agreement could bring, particularly in sectors such as agriculture and sustainable energy.

Highlighting the significance of the UAE as a key export destination and hub in the Gulf region, Minister McClay underscored the substantial opportunities for economic cooperation between the two countries. A successful CEPA would not only bolster New Zealand’s economy but also unlock new avenues for trade, potentially leading to increased domestic incomes and a reduction in the cost of living.

Moreover, the negotiations with the UAE complement New Zealand’s broader trade agenda, including ongoing talks towards a free trade agreement with the Gulf Cooperation Council. This multifaceted approach reflects New Zealand’s commitment to diversifying its trade relationships and expanding its global footprint in the ever-evolving landscape of international commerce.

As both nations embark on this journey of economic partnership, they signal their shared commitment to fostering prosperity and sustainable growth, paving the way for a future of mutual benefit and collaboration.