The UAE and New Zealand have completed negotiations on a Comprehensive Economic Partnership Agreement (CEPA) set to strengthen trade ties. The deal will remove duties on 98.5% of New Zealand’s exports immediately, increasing to 99% within three years. The implementation date is yet to be announced.

Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, highlighted the agreement's potential to enhance bilateral trade and ties with the Asia-Pacific region.

In the first half of 2024, non-oil trade between the countries reached $460.3 million which is a 11.5% increase from last year.

The UAE is New Zealand’s largest trading partner in the Middle East, 50% of its trade with the Mena region and 10th largest globally. The CEPA will open doors for New Zealand exporters especially in agriculture and services, including provisions on intellectual property and sustainable development.

This agreement aligns with the UAE's strategy to forge 26 global CEPA agreements aiming for AED 4 trillion in foreign trade by 2031 and a 4% economic growth forecast for this year.

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