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The UAE and New Zealand are in preliminary discussions to forge a trade agreement following a trade visit by the New Zealand officials.
The two countries are now in discussions about a Comprehensive Economic Partnership Agreement (CEPA) after non-oil trade between them reached $805 million in 2022, a 7% increase on 2021, the Ministry of Economy said.
Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi said New Zealand shared the emirates’ belief in open, rules-based trade as a catalyst for sustainable growth.
Al Zeyoudi reaffirmed plans to enhance cooperation across sectors including agriculture, renewable energy, and healthcare.
The UAE is New Zealand’s leading trading partner in the Arab World, accounting for 2.5% of New Zealand’s total foreign trade.
Al Zeyoudi added: “As we seek to expand our network of trading partners, exploring a potential Comprehensive Economic Partnership Agreement demonstrates our commitment to delivering new markets and new opportunities for our private sector.”
The talks follow the recent visit to New Zealand by Reem bint Ibrahim Al Hashemy, UAE Minister of State for International Cooperation, and the signing of a bilateral agreements between the two nations.
Five CEPA agreements, part of the We the UAE 2031 economic vision, which targets 4 trillion UAE dirhams ($1.089 trillion) non-oil foreign trade, have been signed previously with India, Israel, Turkey, Indonesia and Cambodia.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
