Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade (File image)
The UAE and New Zealand have opened preliminary discussions on a Comprehensive Economic Partnership Agreement (CEPA).
Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, met Damien O’Connor, New Zealand’s Minister of Trade and Export Growth, in Dubai as the 2 nations discover particulars of a possible collaboration that’ll see deeper financial progress.
During the assembly, which got here as a part of a go to to the UAE by a delegation of New Zealand’s main commerce officers, Al Zeyoudi recommended the sturdy relations shared by the 2 nations and reaffirmed the widespread imaginative and prescient to reinforce cooperation throughout key sectors equivalent to agriculture, renewable vitality and healthcare.
Al Zeyoudi shared updates on preparations for the upcoming World Trade Organisation’s thirteenth Ministerial Conference (MC13), which will likely be held in Abu Dhabi in 2024.
The UAE and New Zealand already share a productive commerce relationship, with non-oil commerce reaching $805 million (AED 2,956,805,250) in 2022, a progress of seven per cent in comparison with 2021 and 23 per cent greater than in 2020. As of 2022, the UAE is New Zealand’s main buying and selling accomplice within the Arab world, accounting for two.5 per cent of New Zealand’s complete international commerce.
Al Zeyoudi emphasised {that a} UAE-New Zealand CEPA would considerably increase these figures. “New Zealand is a valued partner for the UAE in the Oceania region and a nation that shares our firm belief in open, rules-based trade as a catalyst for sustainable economic growth. As we seek to expand our network of trading partners, exploring a potential Comprehensive Economic Partnership Agreement demonstrates our commitment to delivering new markets and new opportunities for our private sector. We can now look forward to establishing the parameters of a future-facing, resilient and mutually beneficial deal.”
O’Connor added that “these exploratory discussions are an important first step toward a trade agreement with the UAE”.
