The Comprehensive Economic Partnership Agreement (CEPA) between New Zealand and the UAE eliminates tariffs and introduces new commitments, providing greater certainty for New Zealand's service exporters.
It also includes an Investment Facilitation chapter and a Bilateral Investment Treaty, aimed at strengthening investment relations between the two countries. However, it does not include an Investor-State Dispute Settlement (ISDS), according to Minister McClay.
McClay noted that sectors like professional services, education, audiovisual and gaming, as well as engineering and environmental services, stand to benefit from the agreement. The CEPA also covers intellectual property, sustainable development, labor, agriculture, climate, and indigenous trade, while ensuring New Zealand's Treaty of Waitangi obligations are upheld.
Dr. Al Zeyoudi, highlighting New Zealand's long-standing trade relationship with the UAE, stated that the CEPA would further strengthen bilateral ties and create more opportunities for private sectors in both nations. He described the agreement as an important step toward long-term prosperity for both countries.
