UAE and New Zealand Sign Comprehensive Economic Partnership Agreement to Boost Trade and Investment

UAE, 15 January, 2025 : President His Highness Sheikh Mohamed bin Zayed Al Nahyan and New Zealand Prime Minister Christopher Luxon witnessed the signing of a Comprehensive Economic Partnership Agreement (CEPA) at Abu Dhabi National Exhibition Centre (ADNEC). The agreement aims to reduce trade barriers, streamline customs, and boost private sector collaboration.

Signed by UAE Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi and New Zealand Minister for Trade Hon Todd McClay, the CEPA offers 100% duty-free access to UAE exports and will remove duties on 98.5% of New Zealand products, increasing to 99% within three years.

The CEPA is expected to triple bilateral trade to $5 billion by 2032, building on non-oil trade of $642 million in the first nine months of 2024, an 8% rise from 2023. It also includes provisions on sustainability, women’s economic empowerment, and transparency.

This marks New Zealand’s first trade deal with a Middle Eastern nation and aligns with the UAE’s goal of reaching $1 trillion in trade value by 2031. A Bilateral Investment Treaty signed alongside the CEPA will further strengthen investment ties between the two nations.