Dubai: Dr. Thani bin Ahmed Al Zeyoudi, the Minister of State for Foreign Trade, met with Mr. Damien O’Connor, New Zealand’s Minister of Trade and Export Growth in Dubai. They discussed enhanced economic cooperation, including the possibility of a Comprehensive Economic Partnership Agreement between the two nations.
During the meeting, Dr. Al Zeyoudi commended the strong relations shared by the two nations and reaffirmed the common vision to enhance cooperation across key sectors such as agriculture, renewable energy, and healthcare. The meeting came as part of a visit to the UAE by a delegation of New Zealand’s leading trade officials.
Dr. Al Zeyoudi also shared updates on preparations for the World Trade Organisation’s 13th Ministerial Conference (MC13), which will be held in Abu Dhabi in 2024.
The UAE and New Zealand already share a productive trade relationship, with non-oil trade reaching $805 million in 2022, a growth of 7 percent compared to 2021 and 23 percent more than in 2020. As of 2022, the UAE is New Zealand’s leading trading partner in the Arab World, accounting for 2.5 percent of New Zealand’s total foreign trade. Dr. Al Zeyoudi emphasized that a UAE-New Zealand CEPA would significantly boost these figures.
Mr. O’Connor, stated, “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.”
The talks follow the recent visit to New Zealand by Mr. Reem bint Ibrahim Al Hashemy, UAE Minister of State for International Cooperation, and the signing of a number of bilateral agreements.
It includes an MoU between the UAE’s Etihad Credit Export Insurance and the New Zealand Export Credit Agency on securing export credit, and an MoA on food security signed between the UAE Ministry of Climate Change and Environment and New Zealand’s Ministry of Foreign Affairs and Trade.
A cornerstone of the “We the UAE 2031” economic vision, which seeks to push non-oil foreign trade beyond $1 trillion by the end of the decade, the UAE’s CEPA program is solidifying ties with strategic allies at an accelerated pace.
A total of five agreements have been signed to date, with India, Israel, Turkey, Indonesia, and Cambodia, each designed to accelerate economic recovery and secure vital supply chains.