UAE-New Zealand ties took major strides as trade ministers of both the countries held talks in Dubai to strengthen economic cooperation.

Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, received a trade delegation led by Damien O’Connor, New Zealand’s Minister of Trade and Export Growth, in Dubai.

During the meeting, both countries pledged to explore deeper economic collaboration, including the pursuit of a Comprehensive Economic Partnership Agreement.

Al Zeyoudi hailed the strong relations shared by the two nations and reaffirmed the common vision to enhance cooperation across key sectors such as agriculture, renewable energy, and healthcare. He also briefed O’Connor on preparations for the World Trade Organisation’s 13th Ministerial Conference (MC13) which will be held in Abu Dhabi in 2024.

The UAE and New Zealand share a productive trade relationship, with non-oil trade reaching $805 million in 2022, a growth of 7% compared to 2021 and 23% more than 2020. As of 2022, the UAE is New Zealand’s leading trading partner in the Arab World, accounting for 2.5% of New Zealand's total foreign trade.

Al Zeyoudi said that a UAE-New Zealand CEPA would deliver a major boost to these figures. He said, “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. As we seek to expand our network of trading partners, exploring a potential Comprehensive Economic Partnership Agreement demonstrates our commitment to delivering new markets and new opportunities for our private sector. We can now look forward to establishing the parameters of a future-facing, resilient and mutually beneficial deal.”

Damien O'Connor said, “These exploratory discussions are an important first step toward a trade agreement with the UAE, one of our key export destinations in the region, and a valued bilateral partner for New Zealand.”

The talks follow the recent visit to New Zealand by Reem bint Ibrahim Al Hashemy, UAE Minister of State for International Cooperation, where a number of bilateral agreements were signed. – TradeArabia News Service