The free trade agreement between the EU and New Zealand could enter into force as early as mid-2024. The EU Parliament’s Committee on International Trade recently gave its approval. At the November session in Strasbourg, the EU Parliament will take a final vote on the agreement. After that, only the Council’s approval and New Zealand’s ratification of the agreement are pending.
EU tariffs will no longer apply to New Zealand kiwis once the agreement comes into force (Image source: Pixabay)
Tariff quotas to protect the EU agricultural sector
With the free trade agreement, the EU and New Zealand are intensifying their trade relationship. New Zealand will be able to import 91 percent of its goods into the EU duty-free. For New Zealand goods such as kiwis, fish, wine, apples, mussels, squid and onions, EU tariffs will be completely eliminated. Conversely, European goods are not subject to customs duties when imported into New Zealand. In the agricultural sector, the EU will be protected from excessive competition by applying tariff quotas. The products affected are butter, cheese and milk powder as well as beef and mutton.
The text of the EU-New Zealand trade agreement can be found on the website of the European Commission.
Source: DIHK (german)
