The trade agreement concluded last year between the European Union (EU) and New Zealand entered into force on May 1. The treaty is the most modern trade agreement the EU has ever concluded. Both parties expect their trade to grow significantly, evofenedex reports.
The trade agreement between the European Union and New Zealand eliminates all customs duties on EU exports to New Zealand and facilitates European companies’ access to the New Zealand government procurement market. Both parties expect their trade to grow significantly. The agreement also confirms the strengthened relations with New Zealand and the EU’s involvement in the Indo-Pacific region.
Paris Climate Agreement
The trade agreement is the first to integrate the EU’s new approach to trade and sustainable development. The key point here is that the agreement respects the Paris Climate Agreement and fundamental labor rights. This can be enforced as a last resort through trade sanctions.
Broad prosperity
Modern trade agreements are one of the priorities in evofenedex’s 3-point program for the European elections on June 6. “Trade agreements between European countries and other countries are a must for fair international trade, a level playing field and geopolitical stability. These agreements must regulate more than trade between countries; they must also include aspects surrounding broad prosperity, the environment and working conditions. Attention to support among the population is necessary,” says Elmar Otten, International Entrepreneurship policy advisor at evofenedex.
Source: evofenedex
