New Zealand exports to the EU up 28 per cent with kiwifruit playing a significant role
A year after New Zealand-European Union Free Trade Agreement (NZ-EU FTA) came into effect New Zealand’s exports to the region have risen by 28 per cent.
“In the last 12 months our goods exports to the EU surged from NZ$3.8bn to over NZ$4.8bn,” New Zealand trade and investment minister Todd McClay said.
McClay added that this increase was “good news for all New Zealanders” calling out industries with particular growth including sheep farmers, kiwifruit growers and machinery exporters.
Kiwifruit exports have increased by 69 per cent contributing a further NZ$316mn since the NZ-EU FTA began.
“Strengthening ties with trading partners is crucial to growing the New Zealand economy and driving up incomes for Kiwis,” McClay said. “Better market access, lower costs, and fewer trade barriers with the EU are key to delivering the government’s ambitious goal of doubling the value of New Zealand’s exports in 10 years.”
The NZ-EU FTA removed 91 per cent of duties on New Zealand exports immediately, climbing to 97 per cent after seven years.
“Our growing network of trade agreements means exporters now have more choices about where to sell their world-class products,” McClay said.
