New Zealand-European Union Free Trade Agreement

Country / jurisdiction: New Zealand · Year: 2024 · Status: In force · Level: International · Type: Voluntary

The New Zealand - European Union (EU) Free Trade Agreement entered into force in May 2024. It provides for the elimination of border tariffs, notably for:

Electric generation equipment

Mechanical equipment including pumps, appliances, and other advanced machinery

Electric motors, transformers, batteries, and capacitors

Motor vehicles

Mineral ore and processed products including graphite, manganese, copper, aluminium, and nickel

Various products manufactured using above minerals and metals such as sheets, powders, bars, and plates

Photovoltaic cells

The Agreement also contains environmental and climate-related provisions. Chapter 13 of the Agreement notably requires Parties to guarantee equal access to markets for the production and consumption of energy and raw materials (including renewable energy, various metal ores, and articles thereof).

Rules of origin delineated in the Agreement provide that products may benefit from preferential tariff treatment if:

wholly produced or obtained in one of the signatory countries (applicable to minerals, raw materials, and waste and scrap materials)

meeting specific standards (applicable largely to manufactured goods) mainly related to them having undergone a significant production process in one of the signatory countries or meeting minimum regional value content (RVC) requirements

Official source: https://www.mfat.govt.nz/en/trade/free-trade-agreements/free-trade-agreements-concluded-but-not-in-force/new-zealand-european-union-free-trade-agreement/