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 landmark deal will dramatically reduce tariffs on over 98 percent of New Zealand’s exports to the UAE, a move that is expected to significantly enhance economic collaboration between the two nations.

Luxon has emphasized the UAE’s role as a trusted partner for New Zealand, highlighting ongoing cooperation in areas such as renewable energy initiatives in the Pacific and efforts to foster stability in the Middle East. With approximately 4,000 New Zealanders residing in the UAE and over half a million travelers moving between the two countries each year, the UAE functions as a critical logistics hub, facilitating trade and cultural exchange.

The CEPA will be formally signed by Trade Minister Todd McClay alongside an accompanying investment agreement. Presently, trade between New Zealand and the UAE is valued at around NZ$1.3 billion, and Luxon is optimistic that the CEPA will act as a springboard for New Zealand businesses, aiding in the government’s goal of doubling export values over the next decade.

During his visit, Luxon plans to promote New Zealand as a globally connected trading nation and a dynamic destination for sustainable technology and investments. This agreement reflects not only a significant economic milestone but also a commitment to strengthening international relationships, fostering initiatives that will benefit both nations and lead to collaborative opportunities in addressing global challenges.

The signing of the CEPA represents a hopeful step towards enhanced economic growth and a prosperous future for both New Zealand and the UAE, showcasing the potential for mutual benefits through increased trade, investment, and innovation. This partnership is expected to pave the way for more robust economic collaboration and showcase New Zealand’s resilience in the global market.