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Trade Minister Todd McClay and his UAE counterpart the Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi in Wellington last year.
New Zealand’s free trade deal with the United Arab Emirates (UAE) has now been signed.
In Abu Dhabi yesterday, New Zealand Prime Minister Christopher Luxon and UAE President Sheikh Mohammad bin Zayed witnessed the signing of the Comprehensive Economic Partnership Agreement (CEPA) and an accompanying investment treaty by Trade Minister Todd McClay and his UAE counterpart the Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi.
Luxon says that securing trade deals for kiwi exporters has been a top priority for the National-led government as it aims to double the value of the country's exports over the course of a decade.
“The CEPA will unlock economic opportunities for Kiwi businesses, secure preferential access for our primary sector exporters, and strengthen supply chains with a key partner in the Gulf region,” he says.
Two-way trade between New Zealand and the UAE is currently valued at NZ$1.3 billion annually.
Meanwhile, Trade Minister Todd McClay says the deal means duties on 98.5% of New Zealand exports to the UAE will be eliminated immediately on entry into force.
That will then rise to 99% within three years, something McClay says will contribute to the government's target of doubling exports by value in ten years.
“We’re committed to working closely with the UAE to bring the CEPA into force as soon as possible, ensuring it quickly brings benefits to both sides,” he says.
New Zealand’s top exports to the UAE are dairy ($707 million), industrial products ($242 million), meat ($50 million), horticulture ($47 million), and tourism ($33 million).
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.
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”.
New Zealand’s trade with the European Union has jumped $2 billion since a free trade deal entered into force in May last year.
Agriculture and Forestry Minister, Todd McClay is encouraging farmers, growers, and foresters not to take unnecessary risks, asking that they heed weather warnings today.
The Government has announced it has invested $8 million in lower methane dairy genetics research.
The Ashburton-based Carrfields Group continues to show commitment to future growth and in the agricultural sector with its latest investment, the recently acquired 'Spring Farm' adjacent to State Highway 1, Winslow, just south of Ashburton.
New Zealand First leader and Foreign Affairs Minister Winston Peters has blasted Fonterra farmers shareholders for approving the sale of iconic brands to a French company.
A major feature of the Ashburton A&P Show, to be held on October 31 and November 1, will be the annual trans-Tasman Sheep Dog Trial test match, with the best heading dogs from both sides of the Tasman going head-to-head in two teams of four.
Fewer bobby calves are heading to the works this season, as more dairy farmers recognise the value of rearing calves for beef.
The key to a dairy system that generates high profit with a low emissions intensity is using low footprint feed, says Fonterra program manager on-farm excellence, Louise Cook.
Rural retailer Farmlands has reported a return to profitability, something the co-operative says shows clear progress in the second year of its five-year strategy.
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