UAE and New Zealand Cepa unites the two countries, says President

President His Highness Sheikh Mohamed Bin Zayed Al Nahyan has joined Christopher Luxon, Prime Minister of New Zealand, to witness the signing of a Comprehensive Economic Partnership Agreement (Cepa) between the two nations.

The agreement, signed at Abu Dhabi National Exhibition Centre (ADNEC) by Dr. Thani Bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Hon Todd McClay, New Zealand Minister for Trade, will reduce barriers to trade, enhance customs procedures, and facilitate increased private sector collaboration and investment.

His Highness Sheikh Mohamed Bin Zayed stated that the agreement was an important addition to the UAE’s Cepa programme, solidifying ties with the dynamic Asia-Pacific region via one of its most developed and open markets.

His Highness Sheikh Mohamed Bin Zayed Al Nahyan underscored that the UAE-New Zealand Cepa unites the two countries in a shared ambition to develop resilient, future-ready economies built on knowledge, innovation, and talent.

The UAE-New Zealand Cepa builds on growing economic relations between the two countries, with bilateral non-oil trade reaching $642 million in the first nine months of 2024, an increase of 8% from the same period in 2023.

Under the Cepa, New Zealand will provide 100% duty-free access to imports from the UAE, while the UAE will grant duty-free access to 98.5% of New Zealand products, which will rise to 99% within three years.

The deal is expected to boost bilateral trade to $5 billion by 2032, tripling the five-year average trade of $1.5 billion shared between the UAE and New Zealand from 2019-2023. The Cepa represents New Zealand’s first trade agreement with a Middle Eastern nation and is one of the UAE’s most expansive Cepas to date, covering areas that include indigenous trade, sustainable development, women’s economic empowerment, and transparency.

The Cepa, together with the Bilateral Investment Treaty on the Promotion and Protection of Investments concluded alongside the agreement, will provide a more robust framework for strengthening UAE-New Zealand investment ties.

The UAE’s Cepa programme is a key pillar of the nation’s growth strategy, which targets US$1 trillion in total trade value by 2031 and aims to double the size of the wider economy to surpass US$800 billion by 2031.

To date, the Cepa programme, which was launched in September 2021, has concluded agreements with countries in the Middle East, Africa, Southeast Asia, South America, and Eastern Europe, securing improved trade relations and access to markets encompassing nearly a quarter of the world’s population.

Ministers, officials hail signing of Cepa between UAE, New Zealand: Ministers and officials have praised the Comprehensive Economic Partnership Agreement (Cepa) between the UAE and New Zealand, describing it as a strategic step to enhance bilateral economic relations and strengthen cooperation in key sectors, including advanced technology, clean energy, agriculture, and financial services.

They emphasised that the agreement supports economic diversification goals and attracts high-value investments, reinforcing the UAE’s position as a global hub for trade and innovation.

Officials noted that the agreement aligns with the UAE leadership’s vision to enhance economic integration with global markets, reflecting the nation’s commitment to developing strategic partnerships that serve mutual interests.

The Cepa provides an advanced framework to facilitate trade and investment flows, stimulate growth and innovation opportunities, enhance national economic competitiveness, and support the sustainable development of both countries.

Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, described the UAE-New Zealand Cepa as a significant strategic step in bolstering bilateral economic relations, increasing investment flows, and consolidating the UAE’s status as a global centre for trade and foreign direct investment.

Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, highlighted New Zealand’s global reputation as a leader in clean energy transitions. He stated that the Cepa would pave the way for collaborative efforts in implementing high-impact projects.

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, said the Cepa aligns with the UAE leadership’s vision to enhance international cooperation and build high-value partnerships. He described it as a unique opportunity to expand industrial collaboration, particularly in technology, advanced manufacturing, and sustainability.

Abdullah bin Touq Al Marri, Minister of Economy, reaffirmed the UAE’s commitment to fostering sustainable economic and trade relations under the guidance of its leadership. He emphasised the strategic economic ties with New Zealand, a key economy in the South Pacific region.

Mohamed Hassan Alsuwaidi, Minister of Investment, said New Zealand’s strong economy, focused on future-centric sectors, makes it an ideal partner for the UAE’s investment community. He noted that the Cepa would enhance investment flows into clean energy, infrastructure, logistics, tourism, and sustainable food production.

WAM

President His Highness Sheikh Mohamed Bin Zayed Al Nahyan has joined Christopher Luxon, Prime Minister of New Zealand, to witness the signing of a Comprehensive Economic Partnership Agreement (Cepa) between the two nations.

The agreement, signed at Abu Dhabi National Exhibition Centre (ADNEC) by Dr. Thani Bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Hon Todd McClay, New Zealand Minister for Trade, will reduce barriers to trade, enhance customs procedures, and facilitate increased private sector collaboration and investment.

His Highness Sheikh Mohamed Bin Zayed stated that the agreement was an important addition to the UAE’s Cepa programme, solidifying ties with the dynamic Asia-Pacific region via one of its most developed and open markets.

His Highness Sheikh Mohamed Bin Zayed Al Nahyan underscored that the UAE-New Zealand Cepa unites the two countries in a shared ambition to develop resilient, future-ready economies built on knowledge, innovation, and talent.

The UAE-New Zealand Cepa builds on growing economic relations between the two countries, with bilateral non-oil trade reaching $642 million in the first nine months of 2024, an increase of 8% from the same period in 2023.

Under the Cepa, New Zealand will provide 100% duty-free access to imports from the UAE, while the UAE will grant duty-free access to 98.5% of New Zealand products, which will rise to 99% within three years.

The deal is expected to boost bilateral trade to $5 billion by 2032, tripling the five-year average trade of $1.5 billion shared between the UAE and New Zealand from 2019-2023. The Cepa represents New Zealand’s first trade agreement with a Middle Eastern nation and is one of the UAE’s most expansive Cepas to date, covering areas that include indigenous trade, sustainable development, women’s economic empowerment, and transparency.

The Cepa, together with the Bilateral Investment Treaty on the Promotion and Protection of Investments concluded alongside the agreement, will provide a more robust framework for strengthening UAE-New Zealand investment ties.

The UAE’s Cepa programme is a key pillar of the nation’s growth strategy, which targets US$1 trillion in total trade value by 2031 and aims to double the size of the wider economy to surpass US$800 billion by 2031.

To date, the Cepa programme, which was launched in September 2021, has concluded agreements with countries in the Middle East, Africa, Southeast Asia, South America, and Eastern Europe, securing improved trade relations and access to markets encompassing nearly a quarter of the world’s population.

Ministers, officials hail signing of Cepa between UAE, New Zealand: Ministers and officials have praised the Comprehensive Economic Partnership Agreement (Cepa) between the UAE and New Zealand, describing it as a strategic step to enhance bilateral economic relations and strengthen cooperation in key sectors, including advanced technology, clean energy, agriculture, and financial services.

They emphasised that the agreement supports economic diversification goals and attracts high-value investments, reinforcing the UAE’s position as a global hub for trade and innovation.

Officials noted that the agreement aligns with the UAE leadership’s vision to enhance economic integration with global markets, reflecting the nation’s commitment to developing strategic partnerships that serve mutual interests.

The Cepa provides an advanced framework to facilitate trade and investment flows, stimulate growth and innovation opportunities, enhance national economic competitiveness, and support the sustainable development of both countries.

Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, described the UAE-New Zealand Cepa as a significant strategic step in bolstering bilateral economic relations, increasing investment flows, and consolidating the UAE’s status as a global centre for trade and foreign direct investment.

Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, highlighted New Zealand’s global reputation as a leader in clean energy transitions. He stated that the Cepa would pave the way for collaborative efforts in implementing high-impact projects.

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, said the Cepa aligns with the UAE leadership’s vision to enhance international cooperation and build high-value partnerships. He described it as a unique opportunity to expand industrial collaboration, particularly in technology, advanced manufacturing, and sustainability.

Abdullah bin Touq Al Marri, Minister of Economy, reaffirmed the UAE’s commitment to fostering sustainable economic and trade relations under the guidance of its leadership. He emphasised the strategic economic ties with New Zealand, a key economy in the South Pacific region.

Mohamed Hassan Alsuwaidi, Minister of Investment, said New Zealand’s strong economy, focused on future-centric sectors, makes it an ideal partner for the UAE’s investment community. He noted that the Cepa would enhance investment flows into clean energy, infrastructure, logistics, tourism, and sustainable food production.

WAM