The European Union and New Zealand sign a free trade agreement

The European Union and New Zealand sign a free trade agreement

With our correspondent in Brussels, Jean-Jacques Hery

The agreement signed last year was reached and was the result of four years of sometimes difficult negotiations. Today, both sides welcome this signature. In Brussels, European Commission President Ursula von der Leyen called the text “ ambitious “based on” very balanced On the New Zealand side, Prime Minister Chris Hipkins insists Huge benefits » which he presents on the two sites.

Thus, New Zealand shows its desire to find new commercial outlets, while about 30% of its exports are to China. from his side, European Union It wants to strengthen its presence in the Asia-Pacific region, which has become the most important pole in the global economy.

The European Union, New Zealand’s third largest trading partner

In concrete terms, the European Union is now New Zealand’s third largest trading partner, exporting wine, fruit and meat to it in particular. Bilateral trade between the two regions will reach just over nine billion euros in 2022.

This agreement will reduce customs duties by 140 million euros annually on European exports. Brussels’ ambition is to allow an increase in this amounting to 4.5 billion euros annually. At the same time, EU investment in New Zealand could increase by 80%.

For the agreement to finally enter into force, the agreement must now be approved by the European Parliament and ratified by New Zealand.

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