WELLINGTON, Nov 16 (NNN-RNZ) – New Zealand signed trade agreements with Costa Rica, Iceland, and Switzerland, that prioritise Kiwi sustainable exports, according to the New Zealand government, today.
The Agreements on Trade and Sustainability (ACCTS) with Costa Rica, Iceland, and Switzerland were concluded in July, and open up significant economic opportunities for New Zealand businesses, by eliminating tariffs on key sustainable goods and services, said Trade and Agriculture Minister, Todd McClay, who signed the agreements at a ceremony during the ongoing Asia-Pacific Economic Cooperation (APEC) in Peru.
These agreements remove tariffs on New Zealand key exports, including 45 wood and wool products, two sectors that are vital to achieving the goal of doubling New Zealand’s exports by value in ten years, the statement said.
“This new preferential access enhances New Zealand’s competitive standing in global markets and backs Kiwi exporters to succeed overseas,” it said, adding, it will also reduce costs for consumers, removing tariffs on hundreds of other products, including insulation materials, recycled paper, and energy-saving products, such as LED lamps and rechargeable batteries.
These agreements also introduce the first international guidelines on eco-labelling, ensuring they do not become non-tariff barriers, and further support New Zealand’s renewable energy sector by establishing rules to prevent fossil fuel subsidies, McClay said.
The ACCTS is about opening new markets, growing domestic jobs, and adding value to the economy. As more countries join, the benefits will only grow, the minister said.– NNN-RNZ
