The European Union and New Zealand sign a free trade agreement
European Union and New Zealand She signed a free trade agreement on Sunday which, according to Brussels, should lead to a 30% increase in bilateral trade within a decade. The President of the European Commission referred to this agreement, which was concluded in June 2022 after four years of difficult negotiations Ursula von der Leyen He welcomed an “ambitious” and “highly balanced” script.
She added in a statement since then, “New Zealand is a key partner for us in the Indo-Pacific region, and this free trade agreement will bring us closer.” Brussels. For his part, New Zealand Prime Minister Chris Hepkins praised the text, which represents “huge benefits” for both partners.
Chapter “Sustainable Development”
The European Union is New Zealand’s third largest trading partner, and exports in particular vintageand fruit and meat to Europe. Bilateral trade in goods between the two regions will amount to just over 9 billion euros in 2022. According to Brussels, EU exports to the archipelago security It could increase by up to 4.5 billion euros annually. EU investment in New Zealand could grow by up to 80%.
The text also contains a chapter devoted to sustainable development Unprecedented in the European Trade Agreement. “With unprecedented social and climate commitments, (this agreement) promotes equitable and green growth while enhancing economic securityEurope “, estimated Ursula von der Leyen. For the agreement to enter into force, the agreement must be approved by the European Parliament and ratified by New Zealand.
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