Wednesday, 13 March 2024 07:55

NZ-UAE trade talks

Written by Peter Burke

font size decrease font size increase font size
Print
Email

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

Labour Vows to Change Tact on How to Handle Freshwater Rules

A Labour-led Government won’t be bringing back the controversial freshwater rules of 2020.

Rural Vote Debate on Q&A: Substance or Just Platitudes?

It was billed as a chance for all the political parties to woo the rural vote, but question marks hang over just how effective this was.

Freshwater Farm Plan Changes Welcomed by Primary Sector

There's been widespread support from the primary sector for the Government's announcement on changes to freshwater farm plans that come under the Natural Environment Bill, which is now set to replace the existing RMA.

NZ Apple Sector Pushes for Japan & Korea Market Access

The apple sector is working with the Government to unlock access to two key markets that could bring millions in revenue for apple growers.

DIRA Review: Open Country Dairy Warns Against Regulatory "Complacency"

The country's second largest milk processor is warning against 'complacency' during a review of competition regulations in the dairy sector.

Featured

Ballance Welcomes National's Policy on Securing Fertiliser Supply Contracts

Farmer-owned fertiliser company, Ballance Agri Nutrients is welcoming National’s plan to negotiate security agreements with key supplier countries to protect New Zealand-bound products from export restrictions and greater supply chain certainty.

Carrfields Appoints Stu Hall as Chief Operating Officer

Carrfields has announced the appointment of Stu Hall to the newly created role of chief operating officer, Carrfields Ltd, reflecting the continued growth of their agribusinesses and the need to ensure the company has the leadership capacity and support in place as it pursues the emerging opportunities ahead.

NZ Apple Growers Ready to Share Expertise in India

New Zealand's role is not to compete with Indian growers, according to NZ Apples and Pears.

James Blair Named 2026 Young Grower of the Year

The potato industry is celebrating the success of two rising stars - James Blair, the 2026 Young Grower of the Year and runner-up and innovation award winner, Amber Davy.

Rabobank Launches HortPathways for Emerging Hort Leaders

Twenty-eight emerging leaders from across the horticulture sector spent two days last month learning valuable skills and connecting with industry experts.

Young Horticulturist of the Year: Meet the Five Finalists

There are five entrants in this year’s Young Horticulturist of the Year, competing in a series of technical, practical, business and leadership challenges.