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His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, headed an Emirati delegation of business leaders to New Zealand and Australia on an official visit to explore ways to enhance trade and investment relations with the two countries.
The visit witnessed the announcement of the completion of talks on the Comprehensive Economic Partnership Agreement between the UAE and New Zealand, which aims to explore more opportunities to enhance the flow of trade and investment, and create a trade and investment corridor with a promising growing economy.
The visit to New Zealand included a series of meetings held by His Excellency Dr. Thani Al-Zeyoudi with a number of senior officials, including His Excellency Todd Maclay, Minister of Commerce, and His Excellency Nicola Willis, Minister of Finance, during which discussions focused on ways of joint action to achieve the economic ambitions of the two countries.
Al-Zeyoudi and McClay participated in a discussion session with the ruling National Party in the New Zealand Parliament in Wellington, which highlighted the two countries’ commitment to strengthening political and economic relations, and exploring new opportunities in the private sector on both sides.
This was followed by a meeting with companies in order to facilitate direct communication between the UAE delegation and leading companies in New Zealand, especially in the agricultural technology, renewable energy, technology and logistics sectors.
The UAE is New Zealand’s second largest trading partner in the Middle East, and the volume of non-oil trade exchange reached US$768 million in 2023, an increase of 16% compared to the period before the Covid-19 pandemic, specifically in 2019.
This positive trend continued during the first half of 2024, with the volume of trade exchange reaching US$460.3 million, an increase of 11.5% compared to the same period last year. It is expected that the expansion of bilateral trade relations will provide new opportunities in many sectors.
His Excellency Dr. Thani bin Ahmed Al Zeyoudi said that the UAE and New Zealand share a common commitment and will to build trade relations characterized by innovation and flexibility. He stressed that the two countries’ growing relations open new horizons for cooperation between companies, especially in sectors such as the green economy, supply chain management, food security, and advanced technology.
He added that the positive results of our visit to New Zealand are very encouraging, especially after agreeing on the final terms of the comprehensive economic partnership agreement between the two countries, which will contribute to strengthening our relationship at various levels.”
For his part, His Excellency Todd Maclay, New Zealand Minister of Trade, expressed his optimism about this new phase of his country’s relations with the UAE, stressing that deepening trade relations between the two countries creates a solid foundation for enhancing growth and prosperity for the two countries.
In a related context, during his visit to Australia, His Excellency Dr. Thani Al-Zeyoudi held talks with His Excellency Don Farrell, Australian Minister of Trade and Tourism in Melbourne, during which they reviewed the timetables for activating the Comprehensive Economic Partnership Agreement between the two countries and discussed launching the process of harmonizing the customs administrations in the two countries.
Al-Zeyoudi delivered a speech during a roundtable meeting in Melbourne, where representatives from the private sector reviewed the areas and sectors that provide the maximum possible opportunities, including food security, renewable energy, mining, logistics and tourism services. Strengthening relations with the Oceania region as a whole supports the flexibility of regional supply chains and enhances and encourages sustainable development. While the comprehensive economic partnership agreement with Australia and New Zealand will contribute to enabling the UAE to achieve its goal of raising the value of non-oil trade exchange to 4 trillion dirhams (1.1 trillion US dollars) by 2031.
The Emirati delegation accompanying Al Zeyoudi during the two visits included His Excellency Rashid Abdul Karim Al Balushi, Undersecretary of the Department of Economic Development – Abu Dhabi, His Excellency Juma Muhammad Al Kait, Assistant Undersecretary for International Trade Affairs at the Ministry of Economy, His Excellency Ahmed Khalifa Al Qubaisi, Director General of the Abu Dhabi Chamber of Commerce and Industry, in addition to a number of senior officials. The Dubai Chamber of Commerce and Industry, the Sharjah Chamber of Commerce and Industry, Etihad Airways, and DP World, along with representatives of Emirati business institutions and investors.
