Hon Todd McClay
Minister for Trade
Minister of Agriculture

31 October 2024

New Zealand and the six-nation Gulf Cooperation Council (GCC) have concluded negotiations on a trade agreement that will open up significant opportunities for New Zealand exporters in the Gulf region, Minister for Trade and Agriculture Todd McClay announced from Doha today.

Today’s announcement follows significant reengagement with the GCC following meetings with GCC Ministers at the WTO Ministerial Meeting in Abu Dhabi in February of this year and delivers on an 18 year-long ambition for New Zealand to agree this high-quality trade deal in the Middle East.

“This is the highest quality deal the GCC has done to date and its first with a major agricultural exporter,” Mr McClay said.

“It delivers duty free access for 99 per cent of New Zealand’s exports over 10 years and when combined with our recently concluded NZ-UAE CEPA, 51 per cent of our exports to the region will be tariff-free from day one.

New Zealand and GCC trade is worth over $3 billion annually, with New Zealand exporting $2.6 billion in the year to June 2024. This includes $1.8 billion of dairy, $260 million of red meat, $72 million of horticulture and $70 million of travel and tourism services.

The agreement includes provisions that will make doing business easier with preferential access for our primary sector exporters, streamlined customs processes, reduced trade barriers, and commitments to level the playing field for Kiwi services businesses entering the market.

The agreement also includes chapters and provisions on intellectual property, transparency and trade and sustainable development including labour standards, climate, and women’s economic empowerment committing to the Convention on the Elimination of All Forms of Discrimination against Women (CEDAW). New Zealand has also secured our Treaty of Waitangi exception to allow us to meet treaty obligations.

“This agreement complements the NZ-UAE CEPA that was announced in September, and together they represent an important milestone in the Government’s efforts to grow our international connections and double exports by value in 10 years,” Mr McClay says.

“Successfully concluding a trade agreement with the GCC has been a long-standing ambition for successive governments for almost two decades. Growing New Zealand’s trade relationships is part of our plan to grow the economy, lift incomes for kiwis, and create jobs.”

Notes:

• GCC nations include: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE
• New Zealand businesses will have guaranteed access to central government contracting opportunities, on a reciprocal basis, for all GCC members except Saudi Arabia, which is not part of the Government Procurement chapter. We have also agreed temporary entry commitments that mean Kiwi businesspeople can operate in the GCC market, and access the region’s expertise to help upskill and develop our export sector.

The agreement:

• affirms human capital and labour standards though commitments to the International Labour Organisation (ILO) Declaration on Social Justice for a Fair Globalization.
• confirms and honours women’s economic empowerment through commitment to the Convention on the Elimination of All forms of Discrimination Against Women (CEDAW).
• secures climate objectives in line with New Zealand’s international obligations through the General Collaboration on Sustainable Development Chapter where both NZ and the GCC recognise the importance of addressing climate change, and the principles of the UNFCCC and the Paris Agreement.
• retains New Zealand’s right to regulate, including through the Treaty of Waitangi Exception.

Trade Statistics for Media:

GCC overall

• Two-way trade value of $3.06 billion
• Exported $2.61 billion
• Imported $448.11 million.
• If treated as a single country, for trade in total goods and services this country grouping would rank 7 for highest export value, 28 for highest import value, and 11 for highest total trade value.

Bahrain

• Two-way trade value of $76.79 million
• Exported $60.72 million
• Imported $16.07 million
• Bahrain ranked 66 of 242 for highest export value, 84 of 241 for highest import value, and 80 of 244 for highest total trade value.

Kuwait

• Total two-way trade value of $125.13 million
• Exported $104.19 million
• Imported $20.95 million
• Kuwait ranked 52 of 242 for highest export value, 77 of 241 for highest import value, and 68 of 244 for highest total trade value.

Oman

• Two-way trade value of $200.35 million
• Exported $187.15 million
• Imported $13.2 million
• Oman ranked 45 of 242 for highest export value, 89 of 241 for highest import value, and 55 of 244 for highest total trade value.

Qatar

• Two-way trade value of $105.29 million
• Exported $74.39 million
• Imported $30.9 million
• Qatar ranked 59 of 242 for highest export value, 69 of 241 for highest import value, and 72 of 244 for highest total trade value.

Saudi Arabia

• Two-way trade value of $1.28 billion
• Exported $1.06 billion
• Imported $215.47 million.
• Saudi Arabia ranked 18 of 242 for highest export value, 40 of 241 for highest import value, and 23 of 244 for highest total trade value.

UAE

• Two-way trade value of $1.27 billion.
• Exported $1.12 billion
• Imported $151.52 million
• United Arab Emirates ranked 17 of 242 for highest export value, 45 of 241 for highest import value, and 25 of 244 for highest total trade value.

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