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UAE and New Zealand Explore Economic Collaboration and CEPA Discussions

 


A delegation of top New Zealand trade officials recently visited the UAE, where discussions centered on strengthening economic ties between the two nations and exploring the possibility of entering into a Comprehensive Economic Partnership Agreement (CEPA). During the visit, Dr. Thani bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade, welcomed New Zealand's Minister of Trade and Export Growth, Damien O'Connor, reaffirming their shared vision to enhance collaboration in critical sectors like healthcare and agriculture. The UAE, accounting for 2.5% of New Zealand's foreign trade as of 2022, already enjoys strong trade relations with New Zealand, with non-oil trade reaching $805 million in the previous year, reflecting a 7% growth compared to 2021 and a 23% increase over the previous year. These discussions are expected to further boost this prosperous trade relationship.

Dr. Al Zeyoudi emphasized that a UAE-New Zealand CEPA would significantly enhance their already productive trade partnership. New Zealand recognizes the UAE as a valuable bilateral partner and one of its key export destinations. Both nations share a commitment to open and rules-based trade as a catalyst for sustainable economic growth. These exploratory discussions represent a pivotal step toward a potential trade agreement in the Middle East, solidifying the UAE's position as New Zealand's leading trading partner in the Arab World. The talks come in the wake of a recent visit to New Zealand by UAE Minister of State for International Cooperation, Reem bint Ibrahim Al Hashemy, which resulted in the signing of several bilateral agreements, including one on food security.

READ MORE: UAE & New Zealand exploring deeper economic collaboration

These ongoing discussions in Dubai underscore the UAE's commitment to building strategic alliances and reinforcing its position as a global trade partner. As preparations for the World Trade Organization's MC13 in Abu Dhabi in 2024 continue, the UAE remains dedicated to promoting sustainable economic growth and fostering international cooperation in trade and commerce.


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