BusinessEurope reacts to European Parliament Plenary vote on EU-New Zealand FTA

22 November 2023 - Today, the European Parliament gave its consent to the free-trade agreement between the European Union and New Zealand.

Commenting on the plenary vote, BusinessEurope Director General Markus J. Beyrer said: "This is a welcome step in the EU’s efforts to diversify its sources of supply, create new export market opportunities, and to increase its economic resilience in the face of rising geopolitical tensions."

"This trade agreement strengthens the EU’s presence in the dynamic Indo-Pacific region, which is home to some of the fastest growing economies in the world and a vast network of regional trade agreements. The EU’s trade engine needs a boost, and we hope the ratification of this agreement marks a turnaround that paves the way for more agreements to come.

New Zealand has a dynamic public procurement market and attractive opportunities for trade in services. The agreement should improve market access for goods by eliminating tariffs by up to 5% on important EU exports like machinery. It would also lay down modern rules of origin, competition, and intellectual property, which are the foundations of the EU’s competitiveness."