WELLINGTON, April 10 (Xinhua) -- The New Zealand government is moving swiftly to ratify the New Zealand-United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement, aiming to give exporters greater certainty amid global trade challenges.
New Zealand Trade and Investment Minister Todd McClay made the announcement on Thursday, adding the implementation bill for the NZ-UAE agreement passed its first reading in parliament.
"New Zealand exporters are facing international headwinds with increased tariffs into the United States," McClay said, adding both New Zealand and the UAE agreed to accelerate the agreement's enactment.
Once in force, the deal will remove tariffs on 98.5 percent of New Zealand exports to the UAE, increasing to 99 percent within three years. It also improves market access for services and eases non-tariff trade barriers, McClay said.
