EU-NEW ZEALAND TRADE AGREEMENT UNLOCKS NEW OPPORTUNITIES
The EU-New Zealand trade agreement, effective from 1 May 2024, opens significant new export opportunities for EU businesses, producers, and farmers. Expected to cut €140 million annually in duties for EU companies, this landmark deal anticipates up to 30% growth in EU-New Zealand trade over the next decade, potentially boosting EU exports by €4.5 billion annually. EU investment into New Zealand could grow by up to 80%.
The agreement offers several advantages for EU businesses, such as zero tariffs on EU exports to New Zealand, a more open New Zealand services market, including financial services, telecommunications, maritime transport, and delivery services, enhanced access for EU companies to New Zealand government procurement contracts, a dedicated chapter for small business exports and reduced compliance requirements and procedures. For practical information on leveraging these new opportunities, visit the Commission's Access2Markets page.
Negotiations for this trade agreement began in June 2018 and concluded on 30 June 2022, with President von der Leyen and then-New Zealand Prime Minister Ardern announcing the deal. It was signed on 9 July 2023 and adopted by the European Parliament on 22 November 2023, followed by the Council's decision on 27 November 2023. New Zealand completed its ratification on 25 March 2024.
Source and further information: European Commission