New Zealand-European Union Free Trade Agreement (2024)

FAQs

Does New Zealand have a free trade agreement with EU? ›

New Zealand signed a free trade agreement (FTA) with the European Union on 9 July 2023 in Brussels. The NZ-EU FTA enters into force on 1 May 2024. From day one, duties will be removed on 91% of New Zealand's goods exports to the EU, rising to 97% after seven years.

New Zealand does not have a Free Trade Agreement (FTA) with the United States.

As like-minded partners, the EU and New Zealand cooperate closely in the Pacific region. The EU has three objectives: to support climate action, promote sustainable economic development and encourage fundamental values and good governance. These actions align with New Zealand's own development work in the Pacific.

Negotiations were formally launched in June 2020. On 20 October 2021 New Zealand and the UK reached Agreement in Principle (AIP) which confirmed the parameters of the deal and set out the terms on which the text was concluded over subsequent months. The Agreement was signed on 28 February 2022 (1 March NZT).

The FTA will create opportunities for New Zealand businesses large and small to grow, invest and diversify, and support New Zealand's economic recovery from the pandemic. The agreement will cut costs and red tape for New Zealand exporters, allowing them to compete on a level playing field in the EU.

The Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) is an agreement between ASEAN Member States (Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam), Australia and New Zealand.

But New Zealand is one of those countries which is hard to place geographically. New Zealand is neither in Europe nor in Asia nor is it it's own continent. It's located in Oceania same as Australia.

Why did Europeans want New Zealand? ›

Apart from convicts escaping from Australia and shipwrecked or deserting sailors seeking asylum with Māori tribes, the first Europeans in New Zealand were in search of profits—from sealskins, timber, New Zealand flax (genus Phormium), and whaling.

Australia is New Zealand's only formal defence ally. Signed in 1951, the ANZUS Treaty continues to underpin the strategic relationship between our two countries and formalises the commitments that we have to each other as allies.

Britain reluctantly annexed New Zealand in 1840. Missionaries led the push, arguing that the increasing numbers of whalers, traders and settlers, their sometimes fractious relationship with Māori, and the possibility of French annexation all demanded British action.

UK: Offers a rich historical and cultural experience, with easy access to Europe. Urban living is predominant, and the cost of living can be high, especially in cities like London. New Zealand: Known for its stunning natural landscapes, outdoor lifestyle, and a more laid-back approach to life.

Trade is critical to New Zealand's economy. We can only pay for the goods and services we import from overseas by selling exports to other countries. At the moment, international trade (exports and imports) make up around 60% of New Zealand's total economic activity.

New Zealand is a trade dependent economy, and we're a firm supporter of free and open trade. We practice what we preach—we've got one of the most open market economies in the world.

Reciprocal Agreement

The agreement covers anyone who is ordinarily a resident and a citizen of New Zealand – regardless of nationality – and treatment will be provided on the same terms as for UK residents.