In a significant development for global trade, New Zealand has finalized a landmark trade agreement with the United Arab Emirates, opening new avenues for exporters and enhancing global supply chain resilience. This partnership is set to elevate New Zealand's position in the dynamic UAE market and support its ambitious export growth goals.
The agreement will immediately eliminate duties on 98.5% of New Zealand's exports, with plans to extend this to 99% within the next three years. New Zealand’s Trade Minister emphasized that this milestone will drive substantial growth for businesses, fueling the country's broader goal of doubling export value within the next decade.
"This agreement is a game-changer for New Zealand businesses, presenting incredible opportunities to grow and expand within the UAE market. It’s a vital step in boosting our trade and supply chain capabilities," the Minister stated.
With two-way trade between New Zealand and the UAE valued at NZ$1.3 billion as of June 2024, this agreement reflects the strengthening economic ties between the two nations. Remarkably, the deal was negotiated in just four months, making it New Zealand’s fastest trade agreement to date.
The successful conclusion of this trade pact aligns with similar efforts across the region, highlighting a shared commitment to strengthening international trade partnerships and advancing supply chain collaboration.
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