The country is among New Zealand's 10 most important global trading partners... and the first in the Arab world
The UAE and New Zealand identify 7 new tracks for economic partnership
The eighth session of the Joint Economic Committee between the UAE and New Zealand was held recently, on the sidelines of "Expo 2020 Dubai", headed by the Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, and the Minister of Trade and Export Growth in New Zealand, Damian O'Connor.
The committee identified seven new tracks to consolidate the economic partnership between the two countries over the next two years, including: development of trade and mutual investment, advanced technology and innovative industries, agriculture and food security, energy and renewable energy, logistics, tourism, entrepreneurship and small and medium enterprises.
The committee's work also witnessed the signing of a memorandum of understanding between the Union Export Credit Company in the UAE and the New Zealand Export Credit Agency, to enhance the momentum of trade movement and increase export-related investments between the two countries.
Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, affirmed that the economic partnership between the two friendly countries is taking an upward curve towards further progress and prosperity, in terms of exploring promising development opportunities and interconnection between the two business communities.
He said: "Intra-non-oil trade between the UAE and New Zealand recorded about 2.8 billion dirhams at the end of 2021, which reflects a growth of 14.2% compared to 2020, and a 13.4% increase compared to 2019, and the UAE is among the top 10 trading partners. New Zealand globally, as it accounts for 2.5% of New Zealand's foreign trade, and it is the first in the Arab world, by acquiring 50% of New Zealand's trade with Arab countries.
He added that the total direct Emirati investments in New Zealand amounted to 625 million dirhams at the end of March 2021, and in contrast, New Zealand invested more than 272.5 million dirhams in the UAE markets by the end of 2019.
Through the committee, Al Zeyoudi called on the business community in New Zealand to closely review the new business stimuli in the UAE markets, and called for intensifying joint efforts to implement the outputs of the committee, and to move to a new level of partnership, with a major contribution to the private sector and the full support of the two friendly governments .
For his part, New Zealand Minister of Commerce and Export Growth Damian O'Connor said that relations between the two countries are built on strong ties, noting that the UAE is a pivotal trading partner for New Zealand, in addition to its vital position as an active logistic gateway that facilitates the flow of New Zealand exports to the Middle East and Asia. and Africa.
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