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Summaries of EU Legislation

EU–New Zealand Free Trade Agreement

 

SUMMARY OF:

Free Trade Agreement between the European Union (EU) and New Zealand

Decision (EU) 2023/1323 on the signing, on behalf of the EU, of the Free Trade Agreement between the EU and New Zealand

Decision (EU) 2024/244 on the conclusion, on behalf of the EU, of the Free Trade Agreement between the EU and New Zealand

WHAT IS THE AIM OF THE AGREEMENT AND THE DECISIONS?

  • The free trade agreement (FTA) between the European Union (EU) and New Zealand aims to liberalise and encourage trade and investment between the two partners.
  • The agreement will create significant economic opportunities for companies, farmers and consumers, and protect workers and the environment through far-reaching, enforceable provisions on sustainable development.
  • Decision (EU) 2023/1323 marks the signing of the free trade agreement by the Council of the European Union on behalf of the EU.
  • Decision (EU) 2024/244 concludes the agreement on behalf of the EU.

KEY POINTS

  • The agreement will create significant economic opportunities for companies, farmers, consumers, and protect workers and the environment through far-reaching, enforceable provisions on sustainable development. It builds on a partnership agreement between the parties, which came into force in 2022.
  • It includes 27 chapters covering a wide range of issues and providing new and improved export opportunities for EU and New Zealand economic operators in goods and services. These include:
    • the removal of tariffs on key EU exports to New Zealand such as wine and sparkling wine, chocolate, sugar confectionary and biscuits;
    • opening New Zealand’s services market in key sectors such as financial services, telecommunications, maritime transport and delivery services;
    • ensuring reciprocal non-discriminatory treatment of EU investors in New Zealand;
    • protecting close to 2,000 EU wines and spirits, such as Rioja, Champagne and Tokaji, and 163 of the most renowned traditional EU products (geographical indications), such as Feta cheese and Elia Kalamatas olives;
    • facilitating data flows, predictable and transparent rules for digital trade and a secure online environment for consumers;
    • preventing unjustified data localisation requirements and retaining high personal data protection standards;
    • providing more help to small business exports with a dedicated chapter on small and medium-sized enterprises;
    • minimising compliance requirements and procedures to allow for a quicker flow of goods;
    • protecting and enforcing intellectual property rights, aligned with EU standards.
  • The agreement is the first to fully integrate the EU’s new approach to trade and sustainable development and includes:
    • an ambitious chapter on trade and sustainable development that covers labour, women’s empowerment, and environmental and climate matters;
    • a chapter dedicated to sustainable food systems;
    • the removal of tariffs on green goods and services from the moment the agreement entered into force.

DATE OF ENTRY INTO FORCE

The agreement entered into force on 1 May 2024.

BACKGROUND

For further information, see:

MAIN DOCUMENTS

Free Trade Agreement between the European Union and New Zealand (OJ L, 2024/866, 25.3.2024).

Council Decision (EU) 2023/1323 of 27 June 2023 on the signing, on behalf of the Union, of the Free Trade Agreement between the European Union and New Zealand (OJ L 166, 30.6.2023, pp. 48–49).

Council Decision (EU) 2024/244 of 27 November 2023 on the conclusion, on behalf of the Union, of the Free Trade Agreement between the European Union and New Zealand (OJ L, 2024/244, 28.2.2024).

Successive amendments to Decision (EU) 2024/244 have been incorporated into the original text. This consolidated version is of documentary value only.

RELATED DOCUMENTS

Notice concerning the date of entry into force of the Free Trade Agreement between the European Union and New Zealand (OJ L, 2024/1062, 9.4.2024).

last update 29.04.2024

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