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EU, New Zealand Conclude Negotiations on Free-Trade Agreement

June 30, 2022, 3:10 PM

The European Union and New Zealand concluded talks on a new free-trade agreement Thursday. The two regions do about 11.5 billion euros ($12 billion) of trade in goods and services a year.

Under the deal, tariffs will be eliminated on a range of products such as pig meat, wine and chocolate, saving EU businesses around 140 million euros in duties a year, European Commission Executive Vice-President Valdis Dombrovskis told reporters on Thursday. The accord will boost the bloc’s exports to New Zealand by as much as 4.5 billion euros per year.

The deal is also the first to include ...