Brussels: Europe and the Arabs
EU businesses, producers and farmers can now benefit from a range of new export opportunities with the entry into force of the trade agreement between the European Union and New Zealand today, Wednesday, May 1. The deal is expected to reduce 140 million euros annually in customs duties on European Union companies. According to a statement issued by the European Commission in Brussels in this regard, a copy of which we received.
The statement added that thanks to this deal, trade between the European Union and New Zealand is expected to grow by up to 30% within a decade, with EU exports potentially growing by up to 4.5 billion euros annually. EU investment in New Zealand is expected to grow by up to 80%. This historic agreement also includes unprecedented sustainability commitments, including respect for the Paris Climate Agreement and basic labor rights.
EU farmers will benefit from the removal of tariffs on key EU exports such as pork, wine, sparkling wine, chocolate, sugary sweets and biscuits. Furthermore, the agreement protects the entire list of EU wines and spirits (nearly 2,000 names), such as Prosecco and Champagne, as well as 163 of the most popular traditional EU products (geographical indications), such as feta cheese and Istarski ham. And Lubecker is a satrap. Meanwhile, sensitive EU agricultural products such as beef, sheep meat and dairy products are protected by carefully designed tariff quotas.
EU businesses can now benefit from benefits such as:
Exemption from customs duties on EU exports to New Zealand.
New Zealand's services market is more open in key sectors such as financial services, telecommunications, shipping and delivery services.
Non-discriminatory treatment of EU investors in New Zealand.
Improving access by EU businesses to New Zealand government procurement contracts for goods, services, works and business concessions.
A chapter dedicated to helping small businesses export.
Compliance requirements and procedures have been significantly reduced.

Negotiations for a trade agreement with New Zealand began in June 2018 and ended on 30 June 2022, when the deal was announced by President von der Leyen and then New Zealand Prime Minister Ardern. The agreement was signed by the parties on 9 July 2023. It was adopted by the European Parliament on 22 November 2023, followed by the adoption of the decision concluding the agreement by the Council on 27 November 2023. New Zealand completed the ratification procedures on 25 March. 2024.