emirates7 - President His Highness Sheikh Mohamed bin Zayed Al Nahyan and New Zealand’s Prime Minister, His Excellency Christopher Luxon, attended the signing of a Comprehensive Economic Partnership Agreement (CEPA) between their nations at the Abu Dhabi National Exhibition Centre (ADNEC).
The agreement was formalized by His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and His Excellency Hon Todd McClay, New Zealand’s Minister for Trade. It aims to lower trade barriers, streamline customs processes, and foster greater collaboration and investment between private sectors.
Sheikh Mohamed bin Zayed emphasized that this agreement is a significant milestone in the UAE's CEPA programme, strengthening ties with the Asia-Pacific region by partnering with one of its most progressive and open economies. He also highlighted that the CEPA reflects a shared vision to build resilient and forward-thinking economies driven by knowledge, innovation, and talent.
The UAE-New Zealand CEPA is built on an expanding trade relationship. Bilateral non-oil trade reached $642 million in the first nine months of 2024, marking an 8% increase compared to the same period in 2023. Under the agreement, New Zealand will eliminate tariffs on all UAE imports, while the UAE will grant duty-free access to 98.5% of New Zealand products, rising to 99% within three years.
The CEPA is expected to significantly boost trade between the two nations, aiming to reach $5 billion by 2032—more than triple the $1.5 billion average annual trade volume recorded between 2019 and 2023. This agreement is New Zealand’s first trade pact with a Middle Eastern nation and one of the UAE’s most comprehensive to date. It addresses diverse areas such as indigenous trade, sustainable development, women’s economic empowerment, and transparency.
Alongside the CEPA, a Bilateral Investment Treaty on the Promotion and Protection of Investments was concluded, further strengthening UAE-New Zealand ties across various industries.
The CEPA programme is central to the UAE’s growth strategy, which targets $1 trillion in trade by 2031 and aims to double the country’s economic output to exceed $800 billion by the same year. Launched in September 2021, the programme has already secured agreements with regions spanning the Middle East, Africa, Southeast Asia, South America, and Eastern Europe, enhancing trade relations with markets covering nearly a quarter of the global population.
The agreement was formalized by His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and His Excellency Hon Todd McClay, New Zealand’s Minister for Trade. It aims to lower trade barriers, streamline customs processes, and foster greater collaboration and investment between private sectors.
Sheikh Mohamed bin Zayed emphasized that this agreement is a significant milestone in the UAE's CEPA programme, strengthening ties with the Asia-Pacific region by partnering with one of its most progressive and open economies. He also highlighted that the CEPA reflects a shared vision to build resilient and forward-thinking economies driven by knowledge, innovation, and talent.
The UAE-New Zealand CEPA is built on an expanding trade relationship. Bilateral non-oil trade reached $642 million in the first nine months of 2024, marking an 8% increase compared to the same period in 2023. Under the agreement, New Zealand will eliminate tariffs on all UAE imports, while the UAE will grant duty-free access to 98.5% of New Zealand products, rising to 99% within three years.
The CEPA is expected to significantly boost trade between the two nations, aiming to reach $5 billion by 2032—more than triple the $1.5 billion average annual trade volume recorded between 2019 and 2023. This agreement is New Zealand’s first trade pact with a Middle Eastern nation and one of the UAE’s most comprehensive to date. It addresses diverse areas such as indigenous trade, sustainable development, women’s economic empowerment, and transparency.
Alongside the CEPA, a Bilateral Investment Treaty on the Promotion and Protection of Investments was concluded, further strengthening UAE-New Zealand ties across various industries.
The CEPA programme is central to the UAE’s growth strategy, which targets $1 trillion in trade by 2031 and aims to double the country’s economic output to exceed $800 billion by the same year. Launched in September 2021, the programme has already secured agreements with regions spanning the Middle East, Africa, Southeast Asia, South America, and Eastern Europe, enhancing trade relations with markets covering nearly a quarter of the global population.