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 Joint Economic Committee held its meeting on the sidelines of "Expo 2020 Dubai".

From the source

The eighth session of the Joint Economic Committee between the UAE and New Zealand was recently held on the sidelines of Expo 2020 Dubai.

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, said: “The non-oil intra-regional 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. The UAE is also among New Zealand's 10 most important trading partners globally, as it accounts for 2.5% of New Zealand's foreign trade, and it is the first in the Arab world, with 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. In contrast, New Zealand invests more than 272.5 million dirhams in the UAE markets by the end of 2019".

For his part, New Zealand Minister of Commerce and Export Growth Damian O'Connor said that "the 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. Asia and Africa.

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