EU–New Zealand Free Trade Agreement Enters into Force on 1 May
The Directorate-General for Economic Activities of the Ministry of Economy (DGAE/ME) has announced the entry into force of the Free Trade Agreement between the European Union and New Zealand as of 1 May.
Economic Opportunities for European Companies
This agreement brings significant benefits to strategic sectors such as automotive, machinery, chemical, pharmaceutical, textile, apparel, and footwear. In these sectors, customs duties will be completely eliminated within a maximum period of seven years.
Furthermore, it facilitates service provision by Portuguese companies in the areas of delivery services, telecommunications, maritime transport, and financial services.
Main Benefits of the Free Trade Agreement between the EU and New Zealand
- Gradual elimination of customs duties on 100% of EU exports within up to seven years.
- Ease of service provision in sectors like telecommunications, maritime transport, and financial services.
- Level playing field for EU and New Zealand investors.
- Equal access to public procurement opportunities in both regions.
- Specific incentives for small and medium-sized enterprises (SMEs).
- Transparent and non-discriminatory competition rules.
- Strengthened transparency and oversight of trade subsidies.
- Use of international standards to reduce compliance costs.
- Facilitated adaptation to New Zealand’s technical regulations.
- Enhanced protection of intellectual property rights (IPR).
- Protection against unfair trade practices through a bilateral safeguard mechanism.
Conclusion
This agreement represents a strategic opportunity for European and Portuguese businesses, boosting competitiveness and fostering a fairer, more favourable trade environment for both parties.
