With the implementation of the EU-New Zealand trade agreement, EU businesses, producers, and farmers are poised for a new era of growth and expansion. This landmark agreement, expected to save EU companies €140 million annually in duties, is a testament to the fruitful negotiations that began in June 2018 and concluded on June 30, 2022.
The deal, announced by President Ursula von der Leyen and then New Zealand Prime Minister Jacinda Ardern, was signed on July 9, 2023. The European Parliament adopted it on November 22, 2023, followed by the adoption of a decision to conclude the agreement by the Council on November 27, 2023. New Zealand completed its ratification process on March 25, 2024.
The EU-New Zealand trade agreement is not just about growth, but also about protecting our interests. It includes sustainability commitments such as respect for the Paris Climate Agreement and core labour rights. Importantly, it safeguards EU farmers by eliminating tariffs on key EU exports like pig meat, wine and sparkling wine, chocolate, sugar confectionary, and biscuits. The deal also protects the full list of EU wines and spirits (close to 2,000 names), such as Prosecco and Champagne, as well as 163 of the most renowned traditional EU products (Geographical Indications), such as Feta cheese, Istarski pršut ham, and Lübecker Marzipan. Sensitive EU agricultural products, such as beef, sheep meat, and dairy products, are protected with carefully designed tariff rate quotas.
The agreement is a game-changer for EU businesses. It offers zero tariffs on exports to New Zealand, a more open New Zealand services market in key sectors such as financial services, telecommunications, maritime transport, and delivery services. It ensures non-discriminatory treatment of EU investors in New Zealand, and improved access for EU companies to New Zealand government procurement contracts for goods, services, works, and works concessions. A dedicated chapter to help small business exports, significantly reduced compliance requirements and procedures, and practical information to help EU exporters take advantage of these new opportunities can be found on the Commission’s Access2Markets page.
