After four years of negotiations, the EU Commission and the government of New Zealand agreed on a trade agreement on Thursday. The agreement removes all tariffs for EU exports to the island state – European companies should save 140 million euros a year. In addition, the country is opening up some service sectors for EU providers; Investors from Europe are treated on an equal footing with local investors in New Zealand and vice versa. Before the treaty comes into force, however, EU governments and the European Parliament must agree. Last year, the volume of goods traded between New Zealand and the EU was almost eight billion euros. The EU is the island state’s third most important trading partner.
Trade – EU Treaty with New Zealand – Economy
