New Zealand Prime Minister Christopher Luxon is poised to visit the United Arab Emirates (UAE) to witness the signing of the Comprehensive Economic Partnership Agreement (CEPA), which aims to significantly cut tariffs on over 98 percent of New Zealand’s exports to the UAE. This landmark agreement marks a significant advancement in the trade relations between both nations.

In his remarks, Luxon highlighted the UAE as a dependable partner, emphasizing their collaborative efforts in areas such as renewable energy generation in the Pacific region and initiatives aimed at promoting stability in the Middle East. He noted that around 4,000 Kiwis live and work in the UAE, which serves as a crucial transport hub, facilitating over half a million travelers from the UAE to New Zealand each year.

The CEPA, along with an accompanying investment agreement that will be signed by Trade Minister Todd McClay, is anticipated to bolster the current NZ$1.3 billion trade relationship between New Zealand and the UAE. Luxon expressed optimism that the new agreement would serve as a strong foundation for New Zealand businesses to expand their trade and investment initiatives, aligning with the government’s longer-term goal of doubling export values over the next decade.

During his visit, Luxon also aims to promote New Zealand as a globally connected trading nation and an attractive destination for sustainable technology and investment opportunities. This agreement not only symbolizes a commitment to enhanced economic ties but also reflects a broader trend of strengthening international partnerships, particularly within the Pacific region.

Overall, the upcoming signing of the CEPA represents a promising opportunity for mutual growth and prosperity, as both nations look forward to a brighter economic horizon through increased collaboration and investment. Luxon’s trip to the UAE underscores New Zealand’s commitment to maintaining strong international relationships, reflecting a hopeful outlook towards a sustainable and prosperous economic future.