The European Union and New Zealand recently signed a Partnership Agreement on Relations and Cooperation, solidifying their already strong ties. The agreement covers a range of areas including trade, climate change, security, research and innovation, and governance.
One of the key provisions of the agreement is the commitment to working towards a more sustainable future. Both the EU and New Zealand are committed to reducing greenhouse gas emissions and transitioning to a low-carbon economy. The agreement also calls for increased cooperation on climate research and innovation.
In terms of trade, the agreement aims to eliminate tariffs on goods traded between the two partners over time. This is a significant step forward as New Zealand is already the EU`s 46th largest trading partner, with two-way trade totaling €8.7 billion in 2019. The removal of tariffs will further strengthen this relationship, providing greater access to markets on both sides and promoting economic growth.
The partnership also touches on security issues, with a focus on counter-terrorism and cyber security. This reflects the importance of global security in an increasingly interconnected world.
The agreement also provides a framework for increased cooperation on research and innovation, with a particular focus on areas such as health, agriculture, and environment. This is significant as both the EU and New Zealand are leading proponents of science-based decision making and innovation.
Finally, the agreement includes provisions on governance, outlining a framework for regular high-level meetings between the partners. This will help ensure that both parties remain committed to the partnership and that progress is tracked and monitored.
Overall, the Partnership Agreement on Relations and Cooperation between the EU and New Zealand is a significant milestone in their already strong relationship. By committing to shared goals and values, both partners can work together towards a more sustainable, prosperous, and secure future.