- Hon Todd McClay
The Government is moving quickly to ratify the New Zealand-United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA) this year, to give Kiwi exporters options and greater certainty Minister for Trade and Investment Todd McClay announced.
"The NZ-UAE CEPA implementation bill passed its first reading in Parliament today," Mr McClay says.
"New Zealand exporters are facing international headwinds with increased tariffs into the US.
"This week I met with my UAE counterpart Minister of State for Foreign Trade Dr. Al Zeyoudi in Abu Dhabi, and we have agreed to enact the trade agreement with urgency so that businesses in our two countries can benefit from tariff elimination and sensible trade rules
"I'm grateful to the majority of parties in Parliament for their support of Kiwi exporters and this agreement, and will be working cross party to ensure New Zealand businesses have the certainty they need.
"The agreement will immediately eliminate duties on 98.5 per cent of New Zealand exports to the UAE, rising to 99 per cent within three years. It also secures improved access for services and reduces non-tariff barriers," Mr McClay says.
The legislation to implement the agreement will now be considered by the Foreign Affairs, Defence and Trade Committee.
Both countries are working towards entry into force as soon as possible.
