New Zealand signs NZ-EU free trade agreement, attends NATO summit

Prime Minister Chris Hipkins will travel to Brussels to witness New Zealand signing the NZ-EU free trade agreement before heading to NATO summits in Stockholm and Lithuania.

Chris Hipkins said: “Trade is going to be a big focus for me this year. Securing this deal is a big boost for the economy.”

Chris Hipkins said: “This long-awaited deal will unlock access to the world’s third-largest market and, when it comes into effect, will immediately reduce tariffs on New Zealand exports to the EU by about $100 million a year. It’s bigger than any previous New Zealand FTA,” he said. He said.

“Modelling suggests that, when fully implemented, exports to the European Union could increase by up to $1.8 billion annually, adding up to $1.4 billion annually to New Zealand’s GDP.

“This is an important milestone towards the entry into force of this high-quality, historic free trade agreement,” said Chris Hipkins.

Trade and Export Growth Minister Damien O’Connor will also sign the agreement with the Prime Minister in Brussels. EU Executive Vice-President and Commissioner for Trade Valdis Dombrovskis, together with EU President Ursula von der Leyen, will sign the FTA on behalf of the EU.

New Zealand will also sign the Horizon European Association Agreement, the European Union’s leading research and innovation framework and funding platform. This is the largest multilateral research program in the world.

Chris Hipkins said: “Our partnership with Horizon Europe presents new opportunities for New Zealand scientists to collaborate with European partners on research to address major global challenges such as climate change, energy and health. will be provided,” he said.

The Prime Minister will meet with Swedish Prime Minister Ulf Kristersson and Minister of International Development Cooperation and Foreign Trade Johan Forsel in Stockholm before visiting Lithuania for the North Atlantic Treaty Organization (NATO) Summit.

Participation in the summit demonstrates New Zealand’s long-standing partnership with NATO.

Chris Hipkins said: “Russia’s illegal invasion of Ukraine fundamentally undermines the international rules-based system that is so important to New Zealand. It has significant implications not only for New Zealand’s economic recovery, but also for the global economy. ‘ said.

“The summit in Vilnius will give New Zealand an opportunity to contribute our perspectives to leadership discussions on issues of global importance.”

The prime minister also plans to hold important bilateral meetings with foreign leaders on the sidelines of the summit.

The Prime Minister will leave New Zealand this Friday 7 July and return on 14 July, while Damian O’Connor will leave on the same day and return on 12 July.

Damian O’Connor said: “I look forward to advancing the trade and economic opportunities arising from the NZ-EU FTA and thanking Sweden for its support through negotiations, especially during my recent tenure as President of the EU. There are,” he said.

Source: Beehive