Free trade: The new trade agreement between the EU and New Zealand is on track

The European Commission and the New Zealand government initialed a free trade agreement on July 9 that should increase trade between the two blocs by 30% in the next ten years. For the first time, it includes a chapter dedicated to sustainable development.

The European Union (EU) is deepening its engagement in the growing Indo-Pacific region, with This free trade agreement Which will allow companies Reducing customs duties by about 140 million euros annually. Remove these tariff barriers and improve Access to public procurement and services markets New Zealand (financial, telecommunications, etc.), but also harmonization of rules Intellectual property European standards should create opportunities for French small and medium-sized companies and European investment institutions.

On the New Zealand side, this long-awaited trade agreement will provide new opportunities for local businesses incl 30% of exports go to China.

Compliance with PGI standards and tariff quotas for certain agricultural products

In the agricultural businesssujet particulièrement sensible between Neo-Zelandais and Europeans, the droits of douane seront eliminés dès le premier day for the principales exports of l’UE, telles que la viande de porc, the vin and the vin mousseux, the chocolate, the sugars and the biscuits .

EU farmers will enjoy benefits that go beyond tariff cuts. Thus the Convention will protect the entire list of designations Wine and spirits EU products such as Prosecco, Polish vodka, Rioja, Champagne and Tokaj. In addition, 163 protected geographical indications (PGI)Cheeses such as Asiago, Feta, Comte or Queso Manchego, Istarski pršut ham, Lübecker marzipan and Elia Kalamatas will be protected in New Zealand.

The agreement takes into account the interests of European producers sensitive agricultural products : many dairy products, beef and lamb, ethanol and sweet corn. For these sectors, there will be no trade liberalization. On the contrary, the agreement would allow for zero or reduced import duties from New Zealand only in limited quantities, by ” tariff quotas “.

The first agreement to include the new sustainable development approach

Moreover, this agreement is the first to integrate the EU’s new approach to trade and sustainable development.

actually includes a file A chapter devoted to sustainable food systemsan article dedicated to commerce and l gender equality A special provision on trade and Fossil fuel subsidy reform.

the agreement It also liberalizes trade in environmental goods and services upon its entry into force.

Next steps: The text will now be It was forwarded to the European Parliament for approval. After approval by Parliament, the decision on the conclusion can be adopted by the Council, and once New Zealand is notified that it has also completed the ratification procedure, the agreement can enter into force.

C.S