Provisions for reduced trade barriers and commitments to sustainable development and labor standards
New Zealand’s Minister for Trade and Agriculture on October 31, 2024, announced that New Zealand and the Gulf Cooperation Council (GCC)* have finalized a trade agreement.
According to a New Zealand government release (October 31, 2024), the trade deal will grant duty-free access for 99% of New Zealand's exports over 10 years. Additionally, 51% of exports to the GCC will be tariff-free from day one when combined with the New Zealand-UAE Comprehensive Economic Partnership Agreement (CEPA).
The trade deal includes provisions for reduced trade barriers and commitments to sustainable development and labor standards.
* Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE)