New Zealand Prime Minister Christopher Luxon is preparing to visit the United Arab Emirates (UAE) tomorrow for the signing of a vital trade agreement, known as the Comprehensive Economic Partnership Agreement (CEPA). This significant agreement is anticipated to reduce tariffs on over 98 percent of New Zealand’s exports to the UAE, a step that marks a major milestone in the economic collaboration between the two countries.

In his remarks, Luxon emphasized that the UAE is a trustworthy partner for New Zealand, highlighting ongoing cooperation in areas such as expanding renewable energy initiatives in the Pacific and addressing regional conflicts in the Middle East. He pointed out that around 4,000 New Zealanders are currently residing and working in the UAE, which also serves as a crucial transport hub, facilitating the travel of more than half a million visitors to New Zealand each year.

The CEPA will be formally signed by Trade Minister Todd McClay and is set to bolster trade relations that are already valued at approximately NZ$1.3 billion. Luxon expressed optimism that this agreement would provide a robust foundation for New Zealand businesses to increase trade and investment, aligning with the government’s ambitious goal of doubling the value of exports over the next decade.

During his visit, Luxon plans to showcase New Zealand as a globally connected trading nation and a leader in sustainable technology innovations, making it an attractive destination for investment. This agreement is not merely an economic strategy; it symbolizes a broader commitment towards enhancing international relationships and cooperation, yielding collaborative opportunities aimed at addressing global challenges.

Overall, the signing of the CEPA presents a positive outlook for both countries, signifying not just a boost in economic ties but also the potential for mutual growth through expanded trade and investment.