EU and New Zealand Sign Free Trade Agreement

2023-07-10

The European Union and New Zealand signed a free trade agreement in Brussels on the 9th to promote bilateral trade. In a press release released on the same day, the European Commission stated that after the implementation of the agreement, it is expected to save about 140 million euros in tariffs annually for EU enterprises. The EU's annual export volume is expected to increase by 4.5 billion euros, and bilateral trade is expected to increase by 30% within ten years. In addition, EU investment in New Zealand is expected to increase by 80%. The President of the European Commission President von der Leyen said in the communiqu é that the agreement "has brought significant opportunities to enterprises, farmers and consumers of both sides". It is reported that the agreement has been submitted to the European Parliament for review. After the EU and New Zealand complete the ratification process, the agreement will officially enter into force. The EU New Zealand Free Trade Agreement negotiations began in June 2018 and ended on June 30, 2022. (New News Agency)

Edit:He Chuanning    Responsible editor:Su Suiyue

Source:Xinhua

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