The EU and New Zealand are boosting their trade ties with a new deal

President of the European Commission, Ursula van der Leyenand Prime Minister of New Zealand, Chris HipkinsA free trade agreement between the European Union and the island nation was sealed this Sunday.

The trade between the two, Van der Leyen recalls, Now it can be seen that it has increased up to 30%Thanks to the removal of tariffs on exports and the greater opening of its service markets.

Specifically, the contract Eliminate all tariffs on exports from the EU to New Zealand; It consists mainly of manufactured goods, while the EU will repeal them for most New Zealand exports, particularly agricultural products.

The two leaders underscored the longstanding cultural ties and shared values ​​between the two institutions, from trade to support for democracy. Condemnation of Russian invasion of Ukraine.

“Characteristics to Share”

“The geopolitical landscape is increasingly changing and uncertain. There is every reason for our like-minded partners to strengthen our ties so that we can navigate various risks but deliver results for our citizens,” said the President of the European Commission. After signing.

“We continue to put a lot of emphasis on it Our shared values and partnership with Europe,” Hipkins emphasized. “The FTA with the European Union we signed today reflects those values. It’s very beneficial for both partners.”

New Zealand exporters will now enjoy better access to the European Union. A deal is expected to be in place New and substantial economic opportunities, This makes the bilateral relationship even more dynamic.