Wednesday, 13 March 2024 07:55

NZ-UAE trade talks

Written by  Peter Burke
Trade Minister Todd McClay. Trade Minister Todd McClay.

A trade deal with the United Arab Emirates has moved a step close following a meeting between NZ's Trade Minister Todd McClay and UAE Trade Minister Dr Thani bin Ahmed Al Zeyoudi.

The pair met at the recent WTO Ministerial Conference in Abu Dhabi where McClay launched a public consultation for a trade agreement between the two countries. Exploratory discussions on what is called a Comprehensive Economic Partnership Agreement (CEPA) - or effectively an FTA - began last September with two virtual discussions between officials held in December and February.

McClay says the UAE is a top-20 export market for NZ and our largest market in the Middle East, with exports increasing 17% to $1.2 billion in the last year. He says an FTA with the UAE could bring opportunities to enhance our bilateral cooperation and grow our trading relationship.

The UAE is one of the wealthiest countries in the world on a per-capita basis, with an increasingly diversified economy built on financial services, logistics, transport and petroleum. The UAE has started pursuing bilateral CEPAs since 2021, five of which have entered into force. That country is an important hub for NZ and a key component of our connectivity to the region and beyond, particularly in the aviation and maritime sectors.

More like this

Trump's tariffs

President Donald Trump’s decision to impose tariffs on imports into the US is doing good things for global trade, according to Agriculture and Trade Minister Todd McClay.

Fieldays calls for strategic investment in its future

A function at Parliament on 7th October brought together central government decision-makers, MPs, industry stakeholders and commercial partners to highlight the need for strategic investment in the future of Fieldays and its home, the Mystery Creek Events Centre campus.

McClay: “Go hard, go fast!"

Opening a new $3 million methane research barn in Waikato this month, Agriculture Minister Todd McClay called on the dairy sector to “go as fast as you can and prove the concepts”.

Featured

India FTA negotiations end

A landmark moment for New Zealand. That's how  Prime Minister Christopher Luxon describes the conclusion of negotiations for an India-New Zealand Free Trade Agreement.

HortNZ celebrates 20 Years

More than 150 people turned up at Parliament recently to celebrate the 20th anniversary of Horticulture New Zealand (HortNZ).

National

Machinery & Products

» Latest Print Issues Online

The Hound

Yes, Minister!

OPINION: The release of the Natural Environment Bill and Planning Bill to replace the Resource Management Act is a red-letter day…

Two-legged pests

OPINION: Federated Farmers has launched a new campaign, swapping ‘The Twelve Days of Christmas’ for ‘The Twelve Pests of Christmas’ to…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter