EU-New Zealand Trade Deal Submitted For Approval - European Commission
Muhammad Irfan Published February 18, 2023 | 04:50 AM
BRUSSELS (UrduPoint News / Sputnik - 18th February, 2023) The European Commission says it has sent an EU-New Zealand trade agreement to the Council for signature, paving the way for its final approval.
"The EU-New Zealand trade agreement has today taken a big step towards ratification, with the Commission sending it to Council for signature. Sending the draft decisions to the Council on the signature and conclusion of the agreement is a major step: once the Council gives its green light, the EU and New Zealand can sign the agreement and it can be sent to the European Parliament for its consent," the Commission said on Friday.
It specified that the deal will enter into force once it receives final approval from the European Parliament.
The EU-New Zealand trade agreement is expected to boost bilateral trade by up to 30%, according to the Commission, with EU investments into New Zealand expected to grow by up to 80%. EU annual exports could increase by up to $4.8 billion.
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