New Zealand Prime Minister Christopher Luxon is set to embark on an official visit to the United Arab Emirates (UAE) to witness the signing of a pivotal trade agreement, the Comprehensive Economic Partnership Agreement (CEPA). This significant agreement will slash tariffs on over 98% of New Zealand’s exports to the UAE, enhancing economic ties between the two nations.

In a statement, Luxon highlighted the UAE as a trusted partner for New Zealand, emphasizing the mutual interests shared between the two governments, which encompass expanding renewable energy initiatives in the Pacific and aspirations toward de-escalating conflicts in the Middle East. Luxon noted that around 4,000 New Zealanders currently reside and work in the UAE, and recognized the UAE’s vital role as a major transport hub, with more than half a million visitors traveling to New Zealand annually through the emirate.

The signing ceremony, which will take place tomorrow, will be officiated by Trade Minister Todd McClay. Current trade relations between New Zealand and the UAE are valued at approximately NZ$1.3 billion. Luxon stated that the CEPA would provide a robust foundation for New Zealand businesses to enhance their trade and investment efforts, as part of the government’s ambitious goal to double export values within the next decade.

During his visit, Luxon plans to promote New Zealand as a connected trading nation, championing its strengths in sustainable technology and appealing investment opportunities.

This trade agreement not only strengthens economic collaboration but also reflects New Zealand’s ongoing commitment to expanding its trade networks responsibly and sustainably. The focus on renewable energy and regional stability underscores both nations’ dedication to tackling global challenges collaboratively.

Overall, the upcoming signing of the CEPA marks a hopeful step forward in New Zealand’s international trade efforts and signifies the potential for mutual growth and investment in the years to come.