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The EU-New Zealand trade agreement
The European Union concluded negotiations for a comprehensive and ambitious trade agreement with New Zealand on 30 June 2022.
Bilateral trade in goods between the two partners has risen steadily in recent years, reaching almost €7.8bn in 2021.
The EU is New Zealand's third-biggest trade partner.
According to an impact assessment on the FTA, trade between New Zealand and the EU is expected to increase by 30%, with removing tariffs alone saving businesses €140 million in duties per year. Moreover, EU investment flows into New Zealand could increase by over 80%.
The agreement, once it enters into force, will:
- Create significant economic opportunities for companies, farmers and consumers;
- Respect the Paris Climate Agreement and core labour rights, enforceable through trade sanctions as a last resort, and:
- Cement EU ties with a like-minded ally in the economically dynamic Indo-Pacific region.
Negotiations began in June 2018 and took place over 12 negotiating rounds. Shortly after the conclusion of the negotiations, the negotiated draft texts will be published, go through legal revision, and be translated. Following that, the agreement must be adopted by the Council, after which the EU and New Zealand will sign it. Following its signature, the text is transmitted to the European Parliament.
Once the European Parliament has given its consent, and once the agreement has been ratified by New Zealand, it can then enter into force.
About the agreement
The EU and New Zealand have today concluded negotiations for a trade agreement, which is set to open significant economic opportunities for companies and consumers on both sides.
On 30 June 2022, the European Union and New Zealand concluded their four-year negotiations on an ambitious trade agreement.
The ninth round of negotiations for an EU-New Zealand trade agreement was held from 23 to 30 November 2020 by videoconference.