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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).
Otago Southland Young Farmer Tom Slee has been crowned the Season 58 FMG Young Farmer of the Year after an outstanding performance at the Grand Final in New Plymouth, the first time the event has been held in the region.
With the New Zealand/India Free Trade Agreement (FTA) dominating political debate here, India Prime Minister Narendra Modi will be visiting New Zealand next week.
China remains New Zealand’s biggest market, taking $23 billion of our exports, but it’s no longer a commodity story, says Prime Minister Christopher Luxon.
Prime Minister Christopher Luxon says he wants the primary sector pumping and remain on the front foot globally.
The Government is looking at intervening on behalf of Waikato farmers who face new regulations around agricultural land use while Resource Management Act (RMA) reforms are underway.
New Zealand dairy farmers are set to be the first in the world to receive access to a new digital physical milk pricing tool that enables them to fix the price for their physical milk.
State farmer Pāmu is opening its farm gates this summer in an effort to give the rural sector the opportunity to see how large-scale, multi-system farming is delivering productivity and profitability across New Zealand.
A five-year study has found that the cost of reducing emissions without technology may be significant and unsustainable for Northland dairy farmers.
DairyNZ says Waikato farmers need certainty on Plan Change 1, but they say that certainty must be matched with practical, workable rules and a clear transition that doesn't get ahead of the new resource management system currently under review.
While the Government has moved quickly to make commercial hauliers' lot easier during the current fuel crisis, they appear to be stuck in the creep box when it comes to the agricultural industry.
Waikato farmers have been told that the Government’s new planning system legislation and the region’s Plan Change 1 (PC1) “won’t mesh together very well”.
