New Zealand and United Arab Emirates Begin Discussions on Free Trade Agreement

New Zealand and the United Arab Emirates (UAE) have officially begun negotiations on a free trade agreement (FTA), as announced by Minister for Trade Todd McClay. The decision to commence talks on a Comprehensive Economic Partnership Agreement (CEPA) was made during a meeting between Minister McClay and UAE Trade Minister Dr Thani bin Ahmed Al Zeyoudi in Dubai.

Trade agreements play a crucial role in the government’s strategy to boost the economy, allowing for the provision of high-quality public services for New Zealanders. Minister McClay emphasized the importance of the UAE as a key bilateral partner, highlighting the potential for growth in trade and economic relations between the two countries.

Following successful exploratory discussions and public consultation, it became clear that a high-quality agreement with the UAE could enhance export opportunities and contribute to the government’s goal of doubling exports within a decade. The UAE serves as a significant export destination in the Gulf region, offering potential in various sectors such as agriculture and sustainable energy.

The initiation of negotiations with the UAE complements ongoing talks for a free trade agreement with the Gulf Cooperation Council, reinforcing the government’s commitment to expanding trade relationships in the region. Minister McClay’s recent discussions in Saudi Arabia also contributed to advancing these discussions and exploring further cooperation opportunities.

Overall, the launch of FTA negotiations with the UAE marks a significant step towards strengthening economic ties, creating new commercial opportunities, and ultimately benefiting both countries.