The Diplomat
The EU and New Zealand signed the Free Trade Agreement yesterday in Brussels, nine days after the start of the Spanish Presidency of the EU Council.
The agreement was signed by the Executive Vice-President of the European Commission and Commissioner for Trade, Valdis Dombrovskis; the New Zealand Minister for Trade and Export Growth, Damien O’Connor; and the Permanent Ambassador of Spain to the EU, Marcos Alonso, in the presence, as observers, of the President of the European Commission, Ursula Von der Leyen, and the Prime Minister of New Zealand, Chris Hipkins.
According to the Minister of Industry, Trade and Tourism, Héctor Gómez, “this is an excellent start to the Spanish Presidency of the Council of the EU, in which one of the priorities set is the expansion and diversification of our trade relations and the strengthening of our supply chains, as well as the destination of our exports and investments”.
Under this agreement, the aim is to reduce existing barriers to bilateral trade in goods and services and to ensure that European companies compete on an equal footing with companies from countries that already have a trade agreement with New Zealand. The text guarantees improvements in access to the respective markets for goods, services and public procurement and in the protection of intellectual property, and includes protection for EU geographical indications, including 566 Spanish geographical indications, such as Rioja, Ribera de Duero, Vinagre de Jerez or Queso Manchego.
Negotiations for a Free Trade Agreement with New Zealand began in June 2018. After twelve rounds of negotiations, they concluded on June 30, 2022. Once the agreement is signed, the agreement can enter into force after the European Parliament gives its consent and ratification by New Zealand.
