New Zealand’s Prime Minister Christopher Luxon is departing for the United Arab Emirates (UAE) tomorrow to participate in the signing of a significant trade agreement, known as the Comprehensive Economic Partnership Agreement (CEPA). This agreement is poised to reduce tariffs on over 98 percent of New Zealand’s exports to the UAE, marking a vital advancement in the economic collaboration between the two nations.

In his remarks, Prime Minister Luxon described the UAE as a trusted partner, emphasizing their cooperative efforts across various sectors—including renewable energy initiatives in the Pacific and conflict resolution in the Middle East. He also noted that around 4,000 New Zealanders currently live and work in the UAE, which serves as a crucial logistics hub for more than half a million travelers connecting to New Zealand annually.

The signing event will be officiated by Trade Minister Todd McClay, and the existing trade relationship between New Zealand and the UAE is valued at approximately NZ$1.3 billion. Luxon articulated his optimism that the CEPA will act as a catalyst for expanding trade and investment opportunities for New Zealand businesses, aligning with the government’s broader goal to double the value of exports in the coming decade.

During his visit, Luxon intends to highlight New Zealand’s position as a globally connected trading nation renowned for sustainable technology and attractive investment opportunities. This commitment to fostering economic ties goes hand in hand with ongoing discussions in the region, such as those involving trade agreements like the Pacific Agreement on Closer Economic Relations (PACER) Plus, which seek to strengthen collaboration among Pacific nations.

Overall, the CEPA with the UAE is anticipated to not only enhance trade dynamics but also pave the way for mutual growth and prosperity, underscoring a commitment to responsible and sustainable international relations. This encouraging step forward provides hope for increased cooperation and potential benefits for both New Zealand and the UAE in the future.