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The European Union has strong historical and cultural ties with New Zealand. Both parties share a similar approach to a broad range of international challenges, such as their opposition to protectionism.
In May 2018, the Council of the EU authorised the European Commission to open trade negotiations with New Zealand and adopted negotiating directives.
Following a four-year negotiation process and 12 rounds of negotiations, the EU and New Zealand concluded an ambitious free trade agreement (FTA) in June 2022. The deal removes all tariffs on EU goods, supports EU farmers, and protects workers and the environment through far-reaching, enforceable provisions on sustainable development.
The EU-New Zealand trade agreement entered into force on 1 May 2024.
In support of the FTA negotiations, a Sustainability Impact Assessment (SIA) was carried out, which showed that the agreement would have overall positive macro-economic effects for the EU and for New Zealand.
Trade picture
- Bilateral trade in goods between the EU and New Zealand equalled €8.1 billion in 2023, whereas trade in services accounted for €5.1 billion in 2022.
- The EU is New Zealand’s third-largest trading partner, accounting for 11% of total trade (following China and Australia).
- New Zealand's exports to the EU are largely dominated by agricultural products, while the EU's exports to New Zealand are focused on manufactured goods.
- The stock of EU foreign direct investment in New Zealand amounted to €8.4 billion, and the stock of New Zealand's investment in the EU was €3.1 billion, in 2022.
The EU and New Zealand
Prior to their FTA, the EU and New Zealand entered into a partnership agreement in 2017, which contains a number of economic and cooperation rules. The partnership agreement entered into force in July 2022.
The EU and New Zealand also have a bilateral agreement for mutual recognition of certain technical certificates, which first entered into force in 1998 and was revised in 2012.
A veterinary agreement to simplify trade in live animals and animal products (while protecting public and animal health) has applied since 2003 and was updated in 2015.
New Zealand is a member of APEC. It is also part of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), the Regional Comprehensive Economic Partnership (RCEP), and the Indo-Pacific Economic Framework for Prosperity (IPEF).
Furthermore, New Zealand is a member of WTO since 1995.
More information on the EU-New Zealand trade deal
Trading with New Zealand
- Importing into the EU from New Zealand
- EU trade defence measures on imports from New Zealand
- Exporting from the EU to New Zealand
- Trade relations are part of the EU's overall political and economic relations with New Zealand
- New Zealand is a member of the World Trade Organization
Exporters' stories
Pacific Bio Lubricants Ltd is an Auckland-based subsidiary of the Czech company BIONA. It develops, manufactures and offers environmentally-friendly lubricants labelled LUBECO.
Latest news
EU businesses, producers and farmers are now able to take advantage of a host of new export opportunities with the entry into force of the EU-New Zealand trade agreement today. The deal is expected to cut €140 million a year in duties for EU companies.
The EU and New Zealand have today signed their free trade agreement (FTA), which will deliver significant gains for the EU. The deal will cut some €140 million a year in duties for EU companies from the first year of application. The agreement is now sent to the European Parliament for its consent.
The EU-New Zealand trade agreement has today taken a big step towards ratification, with the Commission sending it to Council for signature.