NZ and UAE conclude free trade agreement negotiations
New Zealand and the United Arab Emirates have concluded negotiations on a free trade agreement that will unlock opportunities for exporters with one of our most important trading partners in the Gulf region
What are the benefits?
• The Agreement eliminates tariffs on 98.5% of exports to the UAE from entry into force, increasing to 99% after three years. Dairy, red meat, industrial and horticultural products are among the sectors that will benefit.
• Streamlined paperwork and faster transit times at the border, with perishable goods cleared within six hours.
• Audio-visual and gaming sectors, professional and education, engineering and environmental services exporters can compete on a level playing field, or in many cases benefit from better conditions than their overseas competitors.
• New Zealand companies operating in the UAE to have access to a range of visa commitments enabling them to send staff there to manage and run their operations. These commitments will also allow New Zealand to access UAE expertise to help up-skill and develop our export sectors.
• Bilateral Investment Treaty concluded alongside the CEPA provides a framework to help grow two-way investment with the UAE.
• The CEPA also includes chapters on intellectual property, as well as trade and sustainable development, covering labour, sustainable agriculture, climate change and women’s economic empowerment, and on Māori economic and trade cooperation.
When will the NZ-UA CEPA enter into force?
There are some legal steps to be completed before the Agreement can be signed. Both sides are committed to sign the CEPA next year, and to work to bring it into force in 2025.
Where can I find more information?
You can find more information on New Zealand’s trade with the UAE at www.mfat.govt.nz/NZUAECEPA