Trade UAE and New Zealand trade to triple after Cepa deal By Neil Halligan January 15, 2025, 7:47 AM Wam UAE president Sheikh Mohamed bin Zayed Al Nahyan meets New Zealand prime minister Christopher Luxon at the Abu Dhabi Sustainability Week 2025 Trade to reach $5bn by 2032 98.5% of products duty free Dairy is top export to UAE Trade between the UAE and New Zealand is set to more than triple following the signing of a comprehensive economic partnership agreement in Abu Dhabi. The countries agreed on a Cepa deal in September, which will provide New Zealand with 100 percent duty-free access to imports from the UAE. The UAE will grant duty-free access to 98.5 percent of New Zealand products, which will rise to 99 percent within three years, the UAE state-owned news agency Wam reported. The agreement is expected to increase bilateral trade to $5 billion by 2032, tripling the five-year average of $1.5 billion between 2019 and 2023. Non-oil trade between the countries reached $642 million in the first nine months of 2024, an increase of 8 percent from the same period in 2023. The UAE described the Cepa deal as its most expansive to date, covering areas like indigenous trade, sustainable development, women’s economic empowerment and transparency. UAE President Sheikh Mohamed bin Zayed Al Nahyan said the solidified ties with the Asia-Pacific region “through one of its most developed and open markets”. The UAE is one of New Zealand’s largest markets in the Middle East. Its top exports to the UAE are dairy ($395 million), industrial products ($135 million), meat ($28 million), horticulture ($26 million) and tourism ($18 million). Imports from the UAE include plastics, carpets, travel services, glass products and jewellery. New Zealand sees the UAE a key export destination and hub in the Gulf region and sees opportunities for enhanced cooperation across areas like agriculture, sustainable energy, aviation and maritime. New Zealand Prime Minister Christopher Luxon, said they “aim to double the value of our exports in 10 years”. UAE celebrates global reach of Cepa programme How the UAE has made a global mining power grab UAE finalises trade deal with five-nation EAEU bloc “The Cepa will unlock economic opportunities for Kiwi businesses, secure preferential access for our primary sector exporters, and strengthen supply chains with a key partner in the Gulf region,” he said. The UAE’s Cepa programme, launched in September 2021, aims to increase its non-oil trade to $1.1 trillion in value by 2031 and double the size of its economy to over $800 billion by 2030. A total of 17 Cepas have been signed – eight are in force and nine are awaiting implementation. On a further seven Cepas, the UAE has concluded negotiations and is awaiting signing and enforcement. UAE-New Zealand trade The GCC agreed on a new free-trade deal with New Zealand in November, which gives duty-free access to 99 percent of New Zealand exports over 10 years. Emirates airline operates daily services to Auckland and to Christchurch, via Sydney. Each flight offers 17,000kg of cargo space in the bellyhold of an Airbus A380. Abu Dhabi Investment Authority sold its stake in New Zealand property group Precinct Properties to the trans-Tasman investment bank Jarden Partners for $147 million in February last year. GCC economies make up New Zealand’s eighth-largest trade partner, with exports led by dairy products, meat, cereal and fruit and nuts.