Boost free trade with New Zealand - and other global partners

22.11.2023 12:29

Boost free trade with New Zealand - and other global partners

Pile of New Zealand and European Flag Buttons

"Today is a good day for EU and global rule-based trade. The Parliament has adopted the EU free trade agreement with New Zealand with an overwhelming majority. This is a very clear signal of our commitment to negotiating new EU free trade agreements, of which we have seen too few in the current mandate," said Daniel Caspary MEP, the Parliament’s lead negotiator of the EU-New Zealand Free Trade Agreement.

"Enhancing the EU’s trade relations and integrating ourselves in the global trade arena is essential, especially when European competitiveness is at an all-time low. The free trade agreement with New Zealand, therefore, comes at a critical time, and I hope we take this opportunity to ramp up negotiations with other vital partners, such as Australia and Mercosur,” said Jörgen Warborn MEP, the EPP Group’s Spokesman on International Trade.

Today, the plenary of the European Parliament gave the green light for the new EU-New Zealand trade agreement, which will most likely enter into force in 2024.

"While we live at different ends of the world, the EU and New Zealand are close, trusted, reliable and like-minded partners. Together, we are driving global rules-based trade forward against a global wave of protectionism and isolationism. With dedicated chapters on SMEs, digital trade and the incorporation of the new EU approach to trade and sustainable development, this is a forward-looking trade agreement and the first of its kind. The EU-New Zealand trade agreement also is the EU's way to enhance its role in the very important Indo-Pacific region," said Caspary.

"Free trade agreements are crucial for economic growth, job opportunities and European competitiveness. I welcome this Free Trade Agreement with New Zealand. It will simplify for EU businesses engaging in business and trade with New Zealand by eliminating tariffs and cutting red tape. It will mean around 30 per cent more growth in our trade. The significant reduction of tariffs will lead to lower prices for consumers,” emphasised Warborn.

The agreement will eliminate all tariffs on EU exports to New Zealand and over 90% of the EU tariffs imposed on imports from New Zealand. That will save EU businesses around 140 million euros in duties per year. The agreement will improve access for EU companies to the New Zealand Government’s procurement market of some 60 billion euros a year. New Zealand respects the protection of 163 European foodstuff geographical indications and the complete list of almost 2,000 EU geographical indications for wines and spirits.

Note to editors

The EPP Group is the largest political group in the European Parliament with 178 Members from all EU Member States

Other related content