Manglova. 07/10/2023. The Spanish presidency begins with the signing of a free trade agreement between the European Union and New Zealand. [Prensa/Actualidad]

The Spanish Presidency of the Council of the European Union began in Brussels with the signing of a free trade agreement between the European Union and New Zealand. European Commission Executive Vice-President and Trade Commissioner, Valdis Dombrovskis; New Zealand Trade and Export Development Minister Damien O'Connor; Spain's Permanent Representative to the EU Marcos Alonso signed the agreement at a ceremony attended by European Commission President Ursula van der Leyen and New Zealand Prime Minister Chris Hipkins. .

Hector Gomes, Minister of Industry, Trade and Tourism, said, “This is an excellent start to the Spanish Presidency of the Council of the European Union, where one of the priorities is the expansion and diversification of our commercial relations and the strengthening of our supply chains, as well as the destination of our exports and investments.

Under the agreement, the two sides seek to reduce barriers to trade and ensure that European companies can compete equally with companies from countries that already have trade agreements with New Zealand, promoting economic growth. Consistent and inclusive.

The EU-New Zealand Free Trade Agreement contains broad content that improves access to their respective markets in matters of goods, services, public procurement and intellectual property protection. There are 566 Spanish Geographical Indications such as Rioja, Ribera de Duero, Vinagre de Jerez or Manchego cheese.

The agreement also includes leading sustainability commitments in areas such as the environment, basic labor rights and gender responsibilities. It is the first trade agreement with specific provisions on trade and fossil fuel subsidy reform; Allowing for liberalization of green goods and services along with a list of such goods and services once they come into effect; Includes a chapter on sustainable diets; It has innovative commitments to the circular economy, deforestation, carbon pricing and protecting the marine environment; and includes a specific chapter on SMEs to assist small and medium enterprises in exporting.

As noted by Hector Gómez, “With this agreement, we begin our presidency's path by strengthening our commercial relationship with the Indo-Pacific region, and promote sustainable and inclusive economic growth in both markets. The agreement was signed to promote the EU's open strategic autonomy of supplies and export markets. Highlighting the EU and New Zealand's unwavering commitment to the benefits of trade openness as a way to increase diversification”.

Negotiations for a free trade agreement with New Zealand began in June 2018. After twelve rounds of negotiations, it was concluded on June 30, 2022. With the agreement already signed, the agreement can come into force once the European Parliament approves it and New Zealand ratifies it.

Bilateral trade relations Spain – New Zealand

New Zealand is Spain's 85th trading partner. Over the past three years, Spain has maintained a stable and slightly surplus trade relationship with New Zealand.

In the last financial year of 2022, Spanish exports to New Zealand reached 290.87 million euros, which is 15% more than in 2021. In 2022, vehicles and parts (21.2%), followed by meat products (11.2%) were the most exported. Fats and oils (8.9%), machinery and equipment (8.1%) and electrical equipment and material (5.7%).