The Spanish presidency begins with the signing of the Free Trade Agreement between the EU and New Zealand

The Spanish presidency of the Council of the EU kicked off in Brussels with the signing of the Free Trade Agreement between the EU and New Zealand. European Commission Executive Vice-President and Trade Commissioner Valdis Dombrovskis, New Zealand Minister for Trade and Export Growth Damien O'Connor and Ambassador Marcos Alonso, Permanent Representative of Spain to the EU, signed the Agreement at a ceremony attended by European Commission President Ursula Von der Leyen and New Zealand Prime Minister Chris Hipkins as observers.

The Minister for Industry, Trade and Tourism, Héctor Gómez said "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".

This agreement seeks to reduce existing barriers to bilateral trade in goods and services and ensure that European companies compete on a level playing field with companies from countries that already have a trade agreement with New Zealand, promoting sustainable and inclusive economic development.

The EU-New Zealand Free Trade Agreement has wide-ranging content that improves access to the respective markets for goods, services, public procurement, as well as intellectual property protection, including protection for EU geographical indications, among which there are 566 Spanish geographical indications, such as Rioja, Ribera de Duero, Vinagre de Jerez or Queso Manchego.

The Agreement also includes leading sustainability commitments in areas such as the environment, core labour rights, as well as commitments on gender. It is also the first trade agreement with specific provisions on trade and fossil fuel subsidy reform; it allows for the liberalisation of green goods and services upon entry into force, with a list of such goods and services; it includes a chapter on sustainable food systems; it contains innovative commitments on the circular economy, deforestation, carbon pricing and marine protection; and it includes a specific chapter on SMEs, which aims to help them to export.

As Héctor Gómez stated, "with this agreement, we begin the path of our presidency by strengthening our trade relationship with the Indo-Pacific region, while promoting sustainable and inclusive economic growth in both markets thanks to the incorporation of pioneering commitments in the Agreement. The signing of this agreement also underlines the EU's and New Zealand's unwavering commitment to the benefits of open trade as a means of increasing the diversification of supplies and export markets, fostering the EU's open strategic autonomy".

Negotiations for a Free Trade Agreement with New Zealand began in June 2018. After twelve rounds of negotiations, these were concluded on 30 June 2022. Now the agreement has been signed, it can enter into force once the European Parliament has given its consent, and New Zealand has ratified it.

Spain - New Zealand bilateral trade relations

New Zealand is Spain's 85th trading partner. In the last three years, trade relations with New Zealand have been stable and slightly in Spain's favour.

In 2022, Spanish exports to New Zealand reached 290.87 million euros, which is 15% more than in 2021. The most exported products in 2022 were vehicles and components (21.2%), meat products (11.2%), fats and oils (8.9%), machinery and equipment (8.1%) and electrical appliances and equipment (5.7%).

Non official translation