The European Parliament gave the green light to the free trade agreement between the European Union and New Zealand this Wednesday. will remove tariffs Law on New Zealanders’ EU exports that, for the first time, includes sanctions for non-compliance with climate and labor commitments.
Thus, the European Parliament – 524 votes in favour, 85 against and 21 abstentions.– Approved the ratification of this trade agreement, which, according to MEPs, constitutes a “central element” for the EU to strengthen its “position, role and importance” in the Indo-Pacific region.
Once in force, all New Zealand tariffs on community club exports will be removed and after seven years, 98.5% of tariffs EU decision on New Zealand trade.
The agreement provides for the protection of all geographical indications. wines and distilled beverages AB like vPolish odka, Rioja or Prosecco, also a list 163 “famous” food productsand advocates for European producers of precision agriculture products such as beef and dairy.
It also includes, for the first time, binding commitments on the basic rules of the Paris Climate Agreement and the European Climate Agreement, and sanctions in case of non-compliance. International Labor Organization (ILO).
Daniel Caspary, a member of the European Parliament for the European People’s Party (EPP) and rapporteur on the report, assured at a press conference before the vote that this was a trade agreement “more modern“The EU has achieved this and it will serve as a ‘model’ for future agreements.”
“One One-stop shop for SMEs (small and medium-sized businesses)This chapter, an independent chapter for digital trade, takes into account obligations to combat climate change in a binding way and with sanctions,” Caspary explained.
Bilateral goods trade between the EU and New Zealand 9.1 billion eurosThe community club is this South Pacific nation’s third trading partner.
The European Commission (EC) expects trade between both regions to increase by 30% and investment flows The EU’s share in New Zealand will increase by more than 80 percent.
For this reason MPs They emphasize that this trade agreement creates opportunities for European companies to enter the shrinking market on equal terms with local companies.
“Our companies, especially SMEs, will have more export opportunities and we will be in a better position in global competition to determine what the future will be like.” international trade “He will come,” said Caspary.
Member States are expected to give the green light to the agreement next Monday, November 27 Once approved by New Zealand, it is expected to come into force in mid-2024.