To deepen economic ties between the UAE and New Zealand to center stage, Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, hosted Damien O’Connor, New Zealand’s Minister of Trade and Export Growth, in Dubai. The focus of their high-level discussion centered on the potential Comprehensive Economic Partnership Agreement (CEPA).
At this crucial juncture, Al Zeyoudi highlighted the solid bond between both nations and expressed enthusiasm for boosting collaboration in pivotal sectors: agriculture, renewable energy, and healthcare.
Discussions also touched upon the World Trade Organisation’s 13th Ministerial Conference (MC13) scheduled for 2024 in Abu Dhabi. Al Zeyoudi offered valuable perspectives on the preparatory strides for this global convention.
Recent trade data underscores the flourishing ties. The 2022 non-oil trade figures reached an impressive $805 million, a 7% growth from 2021, and a significant 23% escalation since 2020. The UAE has distinguished itself as New Zealand’s top trading partner within the Arab World, contributing to 2.5% of New Zealand’s external trade.
Highlighting the potential of a UAE-New Zealand CEPA, Al Zeyoudi noted that, such an agreement could considerably elevate these trade numbers. He praised New Zealand’s role as an impactful ally for the UAE, especially within the Oceania region, stressing their joint commitment to transparent and structured trading for enduring economic prosperity. His anticipation is clear: “We can now look forward to establishing the parameters of a future-facing, resilient, and mutually beneficial deal.”
O’Connor reciprocated the sentiment, stating, “These exploratory discussions are an important first step toward a trade agreement with the UAE, one of our key export destinations in the region and a valued bilateral partner for New Zealand.”
Recent interactions, including the visit of Reem bint Ibrahim Al Hashemy, UAE’s Minister of State for International Cooperation, to New Zealand, further bolster this narrative. The outcome is several bilateral agreements like an MoU to reinforce export credit and an MoA focused on food security, enhancing trade relations.
With an eye on the ambitious ‘We the UAE 2031’ strategy, targeting a surge in non-oil foreign trade to $4 trillion by 2030, the UAE’s CEPA initiative is rapidly establishing formidable ties. Current agreements with nations such as India, Israel, Turkey, Indonesia, and Cambodia emphasize the UAE’s dedication to spurring economic resurgence and fortifying crucial supply routes.
The New Zealand delegation comprised esteemed officials, including Richard Kay, Ambassador of New Zealand to the UAE, and prominent representatives from the Ministry of Foreign Affairs and Trade.
These developments vividly depict the strengthening bond between the UAE and New Zealand, signaling an exhilarating era for international economic collaborations.
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