In negotiations for four years, Brussels and Wellington concluded a free trade agreement on 30 June, which could increase their bilateral trade by 30%, particularly in the agricultural sector.
Beginning in June 2018, the talks for a free trade agreement between the European Union and New Zealand concluded on 30 June 2022.However, it will take a little patience before its entry into force, as the texts have not yet been published. This Treaty says: « New Generation » includes environmental and social rules, in particular to be in line with the Paris Agreement on Climate, ILO labour standards, the protection of marine life and gender equality.
In practical terms, this agreement provides forIelimination of all customs duties,could increase the value of New Zealand's exports to the EUEUR 1 billion per year by 2035in particular in theagricultural sector. Given the concern of European farmers about the arrival of these products (including meat) on the market, Brussels states that many New Zealand imports will be subject to quotas.
The EU is New Zealand's third largest trading partner, behind China and Australia.
This partnership with Wellington could also enable Brussels to resume trade discussions with Australia, which were interrupted in the autumn of 2021 due to tensions between Paris and Canberra (cf.EU / Australia: Trade negotiations postponed). Moreover, the time has come to appease these two countries since the French President welcomed the Australian Prime Minister on 1 July.
Sources: The Echoes | European Commission
Editors: S. SERVICE | D. GRAS