The EU and New Zealand sign a free trade agreement
The agreement reached in June 2022 between the EU and New Zealand to increase the exchange between both regions was signed this Sunday in Brussels
The European Union and New Zealand have consolidated this Sunday with their signing the free trade agreement reached in June 2022 after four years of negotiations, as announced on his Twitter account by the Vice President of the European Commission responsible for Trade, Valdis Dombrovskis.
“The EU and New Zealand share a very special relationship. I call it ‘being very close, from very far'”, the Latvian politician said during the signing ceremony, accompanied by the New Zealand Minister of Commerce, Damien O’Connor.
“We will not be close neighbors in terms of geography, but we are close in almost every other way: in terms of politics, culture and values. We are dynamic export economies. We are strong advocates of meaningful climate action,” he added in his speech.
“This historic agreement will unlock new opportunities for EU companies and our farmers and is also the most sustainable free trade agreement ever signed,” he added on his Twitter account.
The agreement between the European Union and New Zealand is called to increase trade between the two regions by 30 %, especially in agriculture but also in other key areas, and community experts expect European investments in the oceanic country to grow by up to 80 %. The rights paid by EU companies from the first year of application may also be reduced by around 140 million euros per year.
In agricultural matters, the EU welcomes the end of tariffs for most of its exports, including pork, chocolate and wine; In addition to highlighting that this agreement ensures the protection of nearly 2,000 wines and spirits with a European designation of origin, such as Rioja, and nearly 200 Geographical Indications, especially cheeses such as Manchego.
Dombrovskis ended his speech with his sincere thanks to Minister O’Connor, “a tough but fair negotiator”, as well as his own negotiating team of Peter Berz and Vangelis Vitalis. “I hope that we can now quickly complete the ratification process in New Zealand and within the EU itself so that it enters into force as soon as possible,” he concluded.
Source: dpa
(Reference image source: European Union, Europa Press / dpa)
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