Robert Besser
04 Jul 2022, 15:52 GMT+10
BRUSSELS, Belgium: Negotiations on a free trade agreement between the European Union and New Zealand ended successfully this week, paving the way to boost their flow of goods and services by 30 percent.
EU Trade Commissioner Valdis Dombrovskis said the agreement sent an important "geopolitical signal" and stressed that the European Union would seek further partnerships.
"It's clear that we need to diversify away from Russia ... (and) look for new markets, supply chains and so forth, and this is exactly what this deal contributes too," Dombrovskis told reporters.
The agreement will remove tariffs on several products and be the first struck by the EU to include potential sanctions for violations of environmental or labour standards, a concept it only proposed last week.
Tariffs will fall for EU exports, such as clothing, chemicals, pharmaceuticals and cars, as well as wine and confectionary. The EU will increase by 10,000 tonnes its quota of New Zealand beef, a sensitive area for France, in particular, as well as raising volumes for lamb, butter and cheese.
The deal may enter force in 18-24 months, subject to approval by the European Parliament and EU governments, a process which has sometimes dragged on for years.
Get a daily dose of Milwaukee Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Milwaukee Sun.
More InformationZAGREB, Croatia: Authorities have said that a weekend bus crash near Varazdin in Croatia killed 12 passengers and injured 32.The ...
WASHINGTON D.C.: The U.S. will participate in a joint military exercise in mid-October with India, less than 62 miles from ...
SEOUL, South Korea: South Korea has launched a domestically manufactured lunar orbiter that took off from Florida's Cape Canaveral Space ...
MOSCOW, Russia: A leading Russian scientist in the field of hypersonic flight, Dr. Alexander Shiplyuk, has been arrested on suspicion ...
LOS ANGELES, California: During a meeting that was disrupted by protesters this week, the Los Angeles City Council voted to ...
WASHINGTON D.C.: The U.S. Justice Department announced this week that former Puerto Rico governor Wanda Vazquez has been arrested in ...
WASHINGTON D.C.: Providing relief to drivers in the United States, the average retail gasoline price in the US fell below ...
The last time Gerrit Cole appeared on the mound at Yankee Stadium, his teammates faced a six-run deficit before taking ...
Tampa Bay's Drew Rasmussen pitched a perfect game for eight innings and Randy Arozarena hit a three-run home run as ...
Chris Bassitt danced out of trouble over five innings and combined with four relievers on a nine-hit shutout Sunday afternoon ...
Albert Pujols hit two homers and drove in four runs to power the St. Louis Cardinals past the Milwaukee Brewers ...
The Minnesota Vikings announced on Sunday that the team would be missing 13 players for the preseason opener against the ...