News Content
New Zealand PM optimistic EU members will approve free trade deal
A FREE trade agreement that New Zealand negotiated with the European Union is unlikely to materialise before 2017 because it requires approval by 28 member states, reports Reuters.
"The process is now that the European Commission will go through the mandating process that's likely to take all of 2016 and probably most of 2017 to get through the 28 member states," said New Zealand Prime Minister John Key at a news conference with German Chancellor Angela Merkel.
"But we're very hopeful for completion of the free trade agreement with Europe," Mr Key said.
Total trade in goods between the EU and New Zealand stood at US$8.37 billion in 2014, according to the European Commission. The EU is New Zealand's third largest trading partner after Australia and China.
"The process is now that the European Commission will go through the mandating process that's likely to take all of 2016 and probably most of 2017 to get through the 28 member states," said New Zealand Prime Minister John Key at a news conference with German Chancellor Angela Merkel.
"But we're very hopeful for completion of the free trade agreement with Europe," Mr Key said.
Total trade in goods between the EU and New Zealand stood at US$8.37 billion in 2014, according to the European Commission. The EU is New Zealand's third largest trading partner after Australia and China.
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
