Key elements of the EU-New Zealand trade agreement

01-07-2022

On 30 June 2022, the European Union and New Zealand concluded their four-year negotiations on an ambitious trade agreement.

The current EU bilateral trade with New Zealand already totals €7.8 billion a year for goods and €3.7 billion for services. The EU exports to New Zealand goods worth €5.5 billion a year and imports New Zealand products of €2.3 billion resulting in a trade surplus for the EU of €3.2 billion.

When it comes to services, the EU exports more than twice as much as it imports: €2.6 billion of services supplied by EU firms to clients in New Zealand versus €1.1 billion in services delivered to EU clients by firms from New Zealand.

EU exporters will gain from immediate tariff removal that will bring European companies yearly savings to more than €140 million.

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