UAE and New Zealand Launch "Economic Partnership" Negotiations

The United Arab Emirates and New Zealand have agreed to commence negotiations aimed at reaching a comprehensive economic partnership agreement, which will enhance trade and investment relations between the two countries. UAE Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, signed a joint declaration of intent with New Zealand Minister of Trade, Todd McClay, to pave the way for these negotiations next month. The proposed comprehensive economic partnership agreement reflects the growing bilateral relations, with non-oil trade between the UAE and New Zealand reaching $764.5 million in 2023, an increase of over 15 percent compared to 2019, surpassing pre-COVID levels. The agreement aims to boost these figures by removing or reducing tariffs and trade barriers, improving market access, and establishing investment pathways that will create new opportunities in key sectors such as agriculture, renewable energy, logistics, professional services, and healthcare.