New Zealand Launches Public Consultation on Potential Trade Agreement with UAE

Today, Trade Minister Todd McClay announced the launch of a public consultation aimed at exploring the potential for a trade agreement between New Zealand and the United Arab Emirates (UAE). Expanding on discussions held with UAE Trade Minister Dr. Thani bin Ahmed Al Zeyoudi during the WTO Ministerial Conference in Abu Dhabi, McClay shed light on the focus placed on bilateral trade relations during their engagement.

Highlighting the UAE’s pivotal role as a market for New Zealand, McClay emphasized its standing among the top 20 export destinations, noting a significant 17% increase in exports to the UAE over the past year. McClay underscored the potential of a “Comprehensive Economic Partnership Agreement” to invigorate bilateral cooperation and nurture sustained growth in trade between the two nations. He also stressed the agreement’s potential synergy with the broader New Zealand Gulf Cooperation Council free trade agreement.

Reassuring stakeholders, McClay reported positive progress in ongoing exploratory discussions between the respective teams. He indicated that a decision on whether to commence formal negotiations would be made later this year, taking into account the outcomes of these discussions and input received from the public. With a commitment to openness and inclusivity, McClay extended an invitation to all interested parties in New Zealand, including businesses, non-governmental organizations (NGOs), and members of the public. He encouraged active participation and the contribution of diverse perspectives during the consultation process.

As New Zealand charts its course in exploring potential trade opportunities with the UAE, McClay reiterated the government’s pledge to ensure that the voices of all stakeholders are heard and given due consideration in shaping the future of bilateral trade relations.