New Zealand’s Prime Minister Christopher Luxon is set to travel to the United Arab Emirates (UAE) tomorrow for the signing of an important trade agreement, known as the Comprehensive Economic Partnership Agreement (CEPA). This agreement will significantly reduce tariffs on over 98% of New Zealand’s exports to the UAE, which currently holds a trade value of NZ$1.3 billion with New Zealand.

Luxon emphasized the UAE’s role as a trusted partner for New Zealand, noting the robust cooperation between the two nations on various issues, including renewable energy initiatives in the Pacific and conflict resolution efforts in the Middle East. He also highlighted the importance of the UAE as a vital logistics hub, serving as a gateway for more than half a million visitors to New Zealand each year.

The signing of the CEPA, along with an accompanying investment agreement which will be overseen by Trade Minister Todd McClay, aims to facilitate increased trade and investment opportunities for New Zealand companies. Luxon stated that this agreement serves as a foundation for New Zealand’s goal to double the value of exports within the next decade.

In his upcoming visit, Luxon plans to showcase New Zealand as a globally connected trading nation and an attractive destination for investment and sustainable technology innovations.

The optimistic tone of this trade deal signifies not only a potential boost for New Zealand’s economy but also strengthens its international trade relationships, particularly within the Middle East region. Such collaborations can lead to improved economic outcomes for both New Zealand and the UAE, reflecting a shared commitment to mutual growth and prosperity.

Summary: New Zealand’s Prime Minister Christopher Luxon will attend the signing of a new trade agreement with the UAE to cut tariffs on over 98% of exports. The deal is expected to enhance trade relations and drive investment opportunities, aligning with New Zealand’s goal to double export value in ten years.