The European Union and New Zealand sign a trade agreement and an association agreement

Yesterday, Sunday, July 9, the European Union and New Zealand signed the Free Trade Agreement (FTA)Which will bring great benefits to the European Union. The agreement will reduce tariffs for EU companies by about 140 million euros annually from the first year of implementation.

As a result, thanks to this agreement, bilateral trade is expected to increase by up to 30% within ten years, and to increase annual exports to the European Union by up to 4.5 billion euros. EU investment in New Zealand has a growth potential of up to 80%. This landmark agreement also includes unprecedented commitments to sustainability, including respecting the Paris Climate Agreement and basic labor rights.

In addition, UNHCR and New Zealand signed today Association Agreement for New Zealand’s participation in Horizon EuropeResearch and Innovation Program of the European Union. This is the first engagement with a partner that is not geographically close to Europe. This is a completely new approach, as the European Union strengthens its relations with trusted partners with a solid scientific base and solid research record.

Chairman’s statement Von der LeyenThe announcement of the two agreements with Chris Hipkins, Prime Minister of New Zealand, is available here.

You can follow Press Conference Executive Vice President Dombrovskis and Damian O’Connor, New Zealand’s Minister of Trade and Export Growth, on the EU-New Zealand Free Trade Agreement on the issue ebs.

two Press releasesin more detail, also available on the Internet (here And there).