During the official visit of New Zealand’s Prime Minister Hon Christopher Luxon to the UAE on January 14, he met with President His Highness Sheikh Mohamed bin Zayed Al Nahyan.
The two leaders discussed the flourishing New Zealand-UAE bilateral relationship and underlined their common interests, including a commitment to free and open trade, support for strong multilateral and regional organizations, peace and prosperity and sustainable economic growth.
Sheikh Mohamed and Prime Minister Luxon witnessed the signature of the New Zealand-UAE Comprehensive Economic Partnership Agreement (CEPA), and the agreement between the Government of the UAE and the Government of New Zealand on the Promotion and Protection of Investments.
Commitment to doubling value of New Zealand’s exports
During the first nine months of 2024, the value of non-oil trade between the UAE and New Zealand reached over $642 million, an 8 percent increase from the same period in 2023, and a 21 percent compared to the same period in 2019. By reducing tariffs and boosting market access, the Comprehensive Economic Partnership Agreement will propel these figures to new heights.
The two leaders also highlighted the agreements’ promise to unlock further economic opportunities and strengthen supply chains for both nations and their peoples, and their shared commitment to advancing mutual prosperity and strengthening economic cooperation. They also highlighted the importance of swiftly progressing ratification and implementation of the agreement.
The UAE and New Zealand’s leaders also underscored the UAE’s important role as a global logistics centre and transformational hub, including for New Zealand’s exports to the broader region and beyond. Both leaders highlighted their respective goals to double the value of New Zealand’s exports and ensure food security for the UAE through the creation of international partnerships.
With New Zealand exports of dairy products totaling NZ$707 million, meat reaching $50 million, and horticulture amounting to $47 million, the two leaders also expressed confidence in New Zealand agribusiness’ ability to help ensure the UAE is able to access safe, high-quality food products.
Leaders discuss cooperation on customs matters
The UAE and New Zealand’s leaders also welcomed the launch of negotiations toward a Customs Mutual Administrative Assistance Agreement (CMAA) that will enhance cooperation on customs matters.
They also welcomed the October 31, 2024, announcement of the conclusion of the New Zealand – Gulf Cooperation Council (GCC) Free Trade Agreement negotiations, a second free trade agreement between their two countries that will complement the CEPA, expressing a mutual desire to see the New Zealand-GCC Free Trade Agreement signed and entered into force as soon as possible.
The two leaders also discussed the UAE’s application to join the Digital Economy Partnership Agreement, an agreement that plays a pivotal role in fostering global collaboration, driving digital innovation and enhancing trade by creating an inclusive framework for the digital economy.
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Stronger travel ties
During the meeting, Prime Minister Luxon said that over 4,000 New Zealanders call the UAE home, underscoring the country as a model of peace, tolerance and co-existence. Both leaders also acknowledged with satisfaction the Double Taxation Agreement in place between the two countries since 2004, which has delivered tax benefits to residents of the UAE and New Zealand who live and work in each other’s countries.
Luxon also announced that New Zealand is working to allow eligible UAE passport holders to use eGates arriving and departing New Zealand from 2025, which will further facilitate travel and people-to-people connections.
