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.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Oceans: NOAA Declares Third Ever Global Coral Bleaching Event

As record ocean temperatures cause widespread coral bleaching across Hawaii, NOAA scientists confirm the same stressful conditions are expanding to the Caribbean and may last into the new year, prompting the declaration of the third global coral bleaching event ever on record. More>>

Scoop Business: A Decade Of Government Pre-Seed Investment

More publicly-funded science is being commercialised after a decade of government ‘pre-see’d investment, according to an independent review. More>>


Solid Energy: Plan To Shut Unprofitable Huntly East Mine

Solid Energy, the state-owned coal miner in voluntary administration, plans to shut down its unprofitable Huntly East mine and lay off 65 staff after deciding the site stands "no chance whatsoever" of finding a buyer. More>>


E Tū: Merger Creates NZ's Biggest Private Sector Union

E tū has been created by the merger of the Engineering, Printing and Manufacturing Union and Service and Food Workers’ Union. It represents more than 50,000 working New Zealanders in industries as diverse as aviation, construction, journalism, food manufacturing, mining and cleaning. More>>


Internet: NZ Govt Lifts Target Speeds For Rural Broadband

The government has lifted its expectations on faster broadband speeds for rural New Zealand as it targets increased spending on research and development in the country's information and communications technology sector, which it sees as a key driver for export growth. More>>


Banks: Westpac Keeps Core Government Transactions Contract

The local arm of Westpac Banking Corp has kept its contract with the New Zealand government to provide core transactions, but will have to share peripheral services with its rivals. More>>


Science Investment Plan: Universities Welcome Statement

Universities New Zealand has welcomed the National Statement of Science Investment released by the Government today... this is a critical document as it sets out the Government’s ten-year strategic direction that will guide future investment in New Zealand’s science system. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news