The Comprehensive Economic Partnership Agreement between the UAE and New Zealand has officially come into effect, marking a significant shift in trade and investment cooperation between the two countries. This historic agreement was signed in January 2025 and aims to enhance the shared economy across multiple sectors, with expectations to increase non-oil bilateral trade value to over $5 billion annually by 2032. This partnership represents a strategic step that reflects both countries’ commitment to deepening economic relations with the global market.
Expected Economic Transformations
The Comprehensive Economic Partnership Agreement between the UAE and New Zealand has come into force to boost bilateral trade, including the elimination or reduction of tariffs and the facilitation of customs procedures. These measures are expected to lead to a significant increase in trade volume, which averaged $1.5 billion annually from 2019 to 2023. This agreement is the first of its kind for New Zealand with a country in the Middle East, underscoring the importance of economic relations with this region.
Official Statements on the Agreement
In this context, His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, stated: “The entry into force of the Comprehensive Economic Partnership Agreement between the UAE and New Zealand is a significant milestone in the journey of relations between the two friendly nations. This agreement enhances innovation and sustainable growth.” He also noted that the agreement opens new horizons for investment and cooperation between the private sectors in various vital areas such as food production, education, renewable energy, and advanced technologies.
Future Expectations for the Partnership
For his part, His Excellency Todd McClay, Minister of Trade and Investment in New Zealand, commented on the agreement, saying: “This is a turning point in the history of New Zealand trade. This agreement reflects our commitment to sustainable growth, and we look forward to deepening our partnership with the UAE in the sectors that matter most to the people of both countries.” Under this agreement, New Zealand will grant a full customs exemption of 100% on imports from the UAE, while the UAE will provide a 98.5% exemption on New Zealand products.
Strategic Goals of the UAE
The Comprehensive Economic Partnership Agreement is a pivotal part of the UAE’s foreign trade strategy, aiming to increase the total trade value to AED 4 trillion by 2031. Since the launch of the program in September 2021, partnership agreements have been signed with 28 countries, enhancing trade relations and opening new markets for UAE companies to reach nearly a quarter of the world’s population.