European Council Approves FTA With New Zealand
The European Council has approved a free trade agreement with New Zealand, with an expectation it will be signed "later on," the council said June 27. The FTA would "liberalise and facilitate trade and investment, as well as promote a…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
closer economic relationship," the council said, noting bilateral trade is expected to rise 30% after the FTA is signed. The deal would eliminate all tariffs on "key EU exports to New Zealand such as pigmeat, wine and sparkling wine, chocolate, sugar confectionary and biscuits," enshrining nondiscriminatory treatment for EU and New Zealand investors, boosting access for government procurement contracts and preempting data localization requirements, the council said. The council said it will request the European Parliament "consent to the conclusion" of the agreement, which also requires New Zealand's ratification.