The free trade agreement between the EU and New Zealand has moved a step closer. The European Council has approved the signing of the agreement. Now the two contracting parties can sign in turn before the agreement can be ratified by the EU Parliament and New Zealand.

With the free trade agreement, the EU intends to further expand its trade with New Zealand. The EU is already the third largest trading partner of the island state in the southern Pacific. Among other things, the agreement provides for the abolition of tariffs on important European export goods such as wine, pork and chocolate.

For more info and useful links on the EU-New Zealand trade agreement, visit the European Council website.

Sources: Handelsblatt (german), European Council