Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


New Zealand eyes free trade deal with EU, Key says

New Zealand eyes free trade deal with EU, Key says

March 26 (BusinessDesk) - New Zealand and the European Union will look at ways to deepen their relationship, which may lead to a free trade deal, Prime Minister John Key says.

The EU, which covers 28 states in Europe, has opened the door for a free trade agreement for the first time, among options to deepen its trade and economic relationship with New Zealand to consider over the coming year. Key met with European Commission President Jose Manuel Barroso and European Council President Herman van Rompuy during the Nuclear Security Summit in The Hague.

“This is a significant development. We’ve always said a free trade agreement is the obvious next step,” Key said. “We’re not there yet, but the issue is now on the agenda – and that’s a step forward. We’re going to come back to this in 2015 to take decisions on what to do next.”

New Zealand lifted exports to the EU 3.7 percent to $4.72 billion in the year ended Jan. 31, while imports from the region rose 11 percent to $8.2 billion in the same period, according to government figures.

The EU will also upgrade its diplomatic mission in Wellington, New Zealand with its first resident ambassador.

The overtures come as New Zealand deepens its economic relations in Asia and China in particular. New Zealand is engaged in two pan-Asia free trade negotiations, the Trans Pacific Partnership and the Regional Comprehensive Economic Partnership.

(BusinessDesk)


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Balance Of Trade: NZ Posts Trade Deficit In October On Falling Dairy Exports

New Zealand’s posted its largest monthly trade deficit for October in six years, while narrowing the shortfall from September, led by a fall in dairy exports to China while all main imports into the country rose. More>>

ALSO:

Gigatown Winner: Plenty Of Positives For Dunedin

Although the city has taken the Gigatown title, along with new ultrafast 1Gbps broadband and funding for $700,000 worth of UFB-related initiatives across the community, Mr Cull says Dunedin has gained so much more through its involvement. More>>

ALSO:

R18: The Warehouse Group Praised For Removing Games

The decision by New Zealand’s largest retailer The Warehouse Group (TW Group), to withdraw stocks of the latest version of Grand Theft Auto V (GTA V) and other R18 games, has been praised by advocacy group Stop Demand Foundation. More>>

ALSO:

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news