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New Zealand moves to secure long-awaited FTA with Gulf states

Xinhua, September 20, 2016 Adjust font size:

New Zealand Trade Minister Todd McClay will visit the United Arab Emirates and Saudi Arabia this week in the hope of pressing home a free trade deal that has been under negotiation since 2009.

The trip was announced Tuesday after Prime Minister John Key held talks at the United Nations in New York with Saudi Arabian Deputy Prime Minister Prince Mohammed Bin Nayef Bin Abdulaziz Al Saud on the ongoing negotiations over a free trade deal between New Zealand and the Gulf Cooperation Council states.

Radio New Zealand reported that Key said after the talks that he thought the trade deal was gathering momentum and could be completed next year.

McClay said he would lead a business delegation to the United Arab Emirates, and Saudi Arabia and he would lead New Zealand's biennial trade and economic discussions with the Saudi government.

"This meeting is the main trade and economic dialogue between our two countries," McClay said in a statement.

While in Riyadh, McClay would also meet with a range of senior Saudi ministers to discuss trade issues including the finalization of the Gulf Cooperation Council-New Zealand Trade Agreement.

The Gulf Cooperation Council, comprising Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Bahrain, and Oman is New Zealand's sixth largest export partner, with annual exports worth over 1.7 billion NZ dollars (1.24 billion U.S. dollars).

En route, McClay would visit Indonesia to meet with Trade Minister Enggartiasto Lukita, as well as deliver a keynote speech at the World Renewable Energy Congress.

"I am pleased to be returning to Indonesia and look forward to continuing our productive discussions on bilateral trade priorities, including market access for New Zealand beef and horticultural exports," said McClay.

Indonesia was New Zealand's 13th largest trading partner with two-way trade worth 1.6 billion NZ dollars (1.17 billion U.S. dollars). Endit