EU – New Zealand agreement a further step forward for global trade
Press release - Trade
1 July 2022
Commenting on the conclusion of the EU - New Zealand trade agreement, EuroCommerce Director General Christel Delberghe said:
“Retailers, wholesalers and traders welcome the conclusion of an agreement providing new trading opportunities between the EU and New Zealand. It shows that EU trade policy still can deliver. This is a much- needed positive step in the open trade agenda which has been under protectionist pressure globally over the last few years. With the disruption caused by the COVID pandemic and the Russian invasion of Ukraine, and the vulnerability these have shown in Europe’s supply chains, this is a further welcome step in easing the diversification of our sourcing of essential supplies.”
Once in place, the EU-New Zealand trade agreement will further build on the EU’s record of concluding trade deals across the world, offering new opportunities for importers, exporters and consumers. The agreement will also ensure predictable conditions and legal certainty for businesses to expand business between the two markets. It will also provide a secure online environment for consumers who engage in digital trade across borders and will remove barriers and prevent discrimination between online and offline activities. The agreement contains a far-reaching trade and sustainability chapter which covers labour, women’s empowerment as well as environmental and climate issues.
Delberghe added: “The removal of tariffs and trade barriers is exactly what Europe’s consumers and businesses need at a time of high inflation across the EU and globally, and an uncertain global economic situation resulting from the Russian invasion of Ukraine. We will be looking to the Parliament and Council to complete the ratification of the agreement and allow its application as soon as possible. We hope that this will act as a spur for further agreement with Australia and progress with more challenging partners such as India.”