Minister of State for Foreign Trade Leads UAE Delegation to New Zealand and Australia to Boost Trade Relations

UAE Concludes CEPA Talks with New Zealand, Strengthens Trade Ties with Australia

Dubai [United Arab Emirates], September 28: Minister of Foreign Trade, Dr. Thani bin Ahmad Al Said, has successfully concluded a visit to New Zealand and Australia, where he led a high-level UAE business delegation to strengthen economic ties.

The visit culminated in the conclusion of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) between the UAE and New Zealand, which will open important new avenues for trade and investment between the two countries.

While in New Zealand, Dr. Al Ciodi held several meetings with senior officials. Todd McClay, Minister of Trade and Hon. Nicola Willis, Minister for Finance. Discussions focused on each country’s economic aspirations and how greater cooperation could help achieve them. In a question-and-answer session with the National Party at New Zealand’s Parliament in Wellington, Dr. Al Zeyudi and Minister McClay attended, highlighting the two countries’ commitment to deepening political and economic ties and exploring new private sector opportunities in both countries.

This was followed by a business roundtable to facilitate direct engagement between UAE representatives and New Zealand’s leading businesses, particularly in the agri-technology, renewable energy, technology and logistics sectors. The UAE is New Zealand’s largest trading partner in the Middle East, with non-oil trade set to reach US$768 million in 2023, a 16 percent increase over pre-COVID-19 levels in 2019. This positive trend continued in the first half of 2024. Trade volume reached 460.3 million US dollars, 11.5 percent higher than the same period last year. The expanding bilateral trade relationship is expected to create new opportunities in various sectors.

Dr Al Ciodi said: “The UAE and New Zealand share a strong commitment to building an innovative and flexible trade relationship. Our growing relationship creates new ways for businesses to collaborate, particularly in areas such as the green economy, supply chain management, food safety and advanced technology. We are greatly encouraged by the response, not least the conclusion of the terms of our proposed Comprehensive Economic Partnership Agreement, which will enhance our relationship in all sectors.

Hon. New Zealand’s Trade Minister Todd McClay commented, “We welcome this new phase in our relationship with the UAE. The deepening trade relations between our countries provide a strong framework for fostering growth and prosperity for both countries.

Dr. Thani also visited Australia where he met Hon. Dan Farrell, Australia’s Minister for Trade and Tourism. The ministers discussed the timeline for the signing and implementation of CEPA between their two countries, negotiations for which were concluded in September, and the initiation of the process of aligning their respective customs departments.

Dr Thani was addressing a business roundtable in Melbourne where private sector representatives reviewed sectors with the highest potential including food security, renewable energy, mining, logistics and tourism.

Strengthening ties with the wider Oceania region will support regional supply chain resilience and promote sustainable development. CEPAs with Australia and New Zealand will help the UAE reach its target of AED4 trillion (US$1.1 trillion) in non-oil trade by 2031.

Abu Dhabi Department of Economic Development Deputy Secretary Rasheed Abdulkarim Al Balushi and other representatives of the United Arab Emirates Dr. Ahmed Khalifa Al Qubaisi, CEO of Abu Dhabi Trade and Industry; as well as senior officials from Dubai Chambers, Sharjah Chamber of Commerce & Industry, Etihad Airways and DB World, along with other representatives of business organizations and investors from the UAE.