The European Union and New Zealand have agreed on a joint free trade agreement. EU Commission chief Ursula von der Leyen spoke of a historic moment on Thursday. There are estimates that trade could increase by around 30 percent. The EU is already New Zealand’s third largest trading partner. In addition to consumers and trading companies, agriculture will also benefit. Among other things, von der Leyen announced that customs duties should be abolished, but that specialties from EU regions would also continue to be protected.
EU Trade Commissioner Valdis Dombrovskis said the deal will benefit both economies and help advance sustainability goals. He emphasized, for example, that violations of climate protection efforts could be sanctioned. New Zealand Prime Minister Jacinda Ardern said 97 percent of goods that New Zealand exported to the EU would be exempt from customs duties.
European politician Svenja Hahn welcomed the agreement: “Trade in goods could increase by up to 47 percent. With the focus on sustainable products, the agreement is progress for responsible trade,” said the FDP MP. The SPD politician Bernd Lange was also pleased. The EU and New Zealand claim to pursue sustainability as a goal and condition of their cooperation. The CDU MP Daniel Caspary also praised the agreement.
Before the agreement can come into force, the EU countries and the EU Parliament, among others, still have to give the green light. (dpa)