Negotiations on the free trade agreement between the EU and New Zealand had been ongoing since 2018. They were concluded in the middle of last year. Now the European Commission submitted the agreement to the Council for signature.

More climate protection, fewer tariffs

The free trade agreement is expected to eliminate tariffs on 97 percent of New Zealand products exported to the EU. Overall, bilateral trade is expected to increase by up to 30 percent.

Climate protection is also part of the trade agreement. Binding environmental requirements and minimum labor standards have been set for both partners.

Before the trade agreement enters into force, it has to be signed by representatives of the EU and New Zealand. Finally, it will be voted on in the European Parliament.

Sources: European Commission, tagesschau.de (german)