European Union Trade Commissioner Maroš Šefčovič and New Zealand Trade and Investment Minister Todd McClay have signed a joint declaration aimed at reducing trade costs and strengthening bilateral cooperation following the first NZ-EU Trade Committee meeting held in Queenstown.
The meeting marked Commissioner Šefčovič's first visit to New Zealand and coincided with the NZ-EU Business Summit, attended by more than 500 representatives from New Zealand and European companies.
© New Zealand Government
"The EU is one of New Zealand's most important and trusted partners. There is potential to deepen our relationship across trade, investment, technology, and innovation. We have agreed to reduce non-tariff barriers between New Zealand and the 27 member countries of the European Union," McClay said.
Two-way trade in goods and services between the two partners totalled NZ$21.58 billion (US$12.8 billion) in the year to June 2025. Exports from New Zealand have grown by NZ$2 billion since the Free Trade Agreement entered into force in 2024.
According to McClay, export growth to the EU has been observed in meat, dairy, honey, forestry, and high-tech goods and services. "We're seeing strong growth in exports to the EU across sectors, pushing us towards the goal of doubling the value of exports in 10 years," he said.
Discussions also covered the EU Deforestation Regulation, which takes effect on 1 January 2026, with a six-month transition period. McClay noted that both sides agreed to coordinate efforts to reduce compliance costs and ensure continued access for exporters under the FTA.
"I am pleased the Commissioner has recognised that New Zealand is honouring its commitments under the FTA around environmental and climate change and that we contribute to afforestation," he said.
Both officials agreed to reconvene during the CPTPP and EU formal dialogue meetings scheduled for November.
For more information:
Hon Todd McClay
Email: [email protected]
www.beehive.govt.nz
