Minister for Trade Todd McClay has announced that New Zealand and the United Arab Emirates (UAE) will commence negotiations on a free trade agreement (FTA).
He cited the UAE as an “important bilateral partner for New Zealand” and said trade agreements are an important tool in the Government’s plan to rebuild the economy.
“Today’s launch of negotiations is an exciting step towards growing our significant trade and economic relationship,” McClay said.
It follows the conclusion of successful exploratory discussions — as well as public consultation — which demonstrated the importance of pursuing a high-quality agreement to unlock greater export opportunities.
McClay said Kiwi exporters are “integral to revitalising our economy” and achieving the Government’s target of doubling exports by value within 10 years.
“New opportunities in the UAE will open further commercial opportunities that will lift domestic incomes and reduce the cost of living.”
“The UAE is a key export destination and hub in the Gulf region, and there are significant opportunities to enhance cooperation across a range of areas, including agriculture and sustainable energy,” he said.
He said a CEPA with the UAE would also complement our ongoing negotiations towards a free trade agreement with the Gulf Cooperation Council.
“I was pleased to advance these discussions during my visit to Saudi Arabia last week and my discussions with Saudi and GCC counterparts.”