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The EU and New Zealand have concluded negotiations for a Trade Agreement, which is set to open significant economic opportunities for companies and consumers on both sides. Bilateral trade is expected to grow by up to 30% thanks to this deal, with EU annual exports potentially growing by up to €4.5 billion. EU investment into New Zealand has a potential to grow by up to 80%. The deal can cut some €140 million a year in duties for EU companies from the first year of application.
The agreement will provide new opportunities for businesses by eliminating all tariffs on EU exports to New Zealand. Tariffs will be eliminated as of day one on key EU exports such as pigmeat.
For the first time ever in an EU trade agreement, the deal has a dedicated sustainable food systems chapter, a dedicated trade and gender equality article and a dedicated provision on trade and fossil fuel subsidies reform. The deal also liberalises green goods and services at entry into force.
June 30, 2022/ European Commission/ European Union.
https://ec.europa.eu
