Europe’s Ambassador to New Zealand says concluding both bilateral and multilateral trade agreements is top of the agenda. The EU and New Zealand reached an agreement on a free trade deal last June and it is expected to be formally signed later this year coming into force from the beginning of 2024. New Zealand exported $3.9 billion dollars worth of goods to the EU in 2021 and Ministry of Foreign Affairs and Trade has estimated tariff savings will exceed $100 million a year when the trade deal comes into force, rising to $110 million after seven years.
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