UAE & New Zealand exploring deeper economic collaboration

As part of a visit to the UAE by a delegation of New Zealand’s leading trade officials, the two countries are exploring deeper economic collaboration and entering preliminary discussions on a Comprehensive Economic Partnership Agreement (CEPA).

Dr Thani bin Ahmed Al Zeyoudi received New Zealand’s Minister of Trade and Export Growth, Damien O’Connor, in Dubai with the UAE Minister of State for Foreign Trade reaffirming the common vision to enhance cooperation across key sectors such as healthcare and agriculture.

Commending the strong ties shared by the two countries, Al Zeyoudi emphasised that a UAE-New Zealand CEPA would significantly boost their already productive trade relationship. As of 2022, the Emirates accounts for 2.5% of New Zealand’s total foreign trade.

Non-oil trade between the two reached $805 million last year, a growth of 7% compared to 2021 and 23% more than in the year before. The UAE remains New Zealand‘s leading trading partner in the Arab World, with the potential CEPA being discussed expected to boost these figures.

UAE’s CEPA Programme Solidifying Ties With Strategic Allies

“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,” Al Zeyoudi said. He also shared updates on preparations for WTO’s MC13, to be held in Abu Dhabi in 2024.

Recognising the UAE as a valued bilateral partner for New Zealand and one of the country’s key export destinations, O’Connor said the exploratory discussions are an important step toward a trade agreement with the Middle Eastern country.

The ongoing talks in Dubai follow a recent visit to the country in Oceania by Reem bint Ibrahim Al Hashemy, UAE Minister of State for International Cooperation, and the signing of multiple bilateral agreements including an MoA on food security.

Also Read: Hajer Ahmed Al Thehli Appointed to Education and Human Resources Council

The New Zealand delegation to the UAE included Jessica Minehan-Fitzgerald, New Zealand Embassy Abu Dhabi; Dr. Richard Kay, Ambassador of New Zealand to the UAE; and Sean O’Brien, Press Secretary to the Minister for Trade and Export Growth.