New Zealand and the European Union Sign Free Trade Agreement

New Zealand and the European Union signed a free trade agreement on Sunday evening, following the completion of negotiations in 2022, with expectations that it will come into effect in the first half of 2024. New Zealand's Trade and Export Growth Minister Damien O'Connor stated that "the trade agreement will reduce costs and support exporters in developing and diversifying their trade." O'Connor and European Commission Vice President and Trade Commissioner Valdis Dombrovskis signed the agreement in Brussels. The statement issued regarding this matter indicated that "the free trade agreement between New Zealand and the European Union is expected to come into effect in the first half of 2024, once both parties complete the required final legal steps."