On 30 June 2022, the EU and New Zealand concluded negotiations for a comprehensive trade agreement. With EU being the third largest trade partner of New Zealand, trade between the two countries is expected to increase by about 30%. Once the agreement enters into force, it would provide the following incentives:
- Eliminating tariffs on certain EU exports, including wine, pork, chocolate, sugar confectionery, and biscuits;
- Protecting the full list of EU wines and spirits;
- Integrating EU’s new approach to trade and sustainable development;
- Unlocking new export opportunities for EU businesses and SME’s for goods and services.
The negotiated draft texts are to be released shortly. The trade agreement will enter into force after it has been ratified by the European Parliament and New Zealand.
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