24 Nov 2023

EU votes to ratify free trade agreement with NZ

From Morning Report, 6:50 am on 24 November 2023

The European Union Parliament has voted in favour of ratifying the New Zealand-European Union Free Trade Agreement, with the largest majority in favour of any EU trade agreement since 2011.

The deal sees duties removed on 91 percent of New Zealand's goods exports to the EU from entry into force, rising to 97% after seven years, with tariff savings of $100 million per annum on New Zealand exports to the EU.

The deal must now be approved by the incoming government.

New Zealand International Business Forum executive director Steven Jacobi spoke to Corin Dann.