New Zealand-UAE Trade Hits NZ$1.3 Billion as Economic Ties Strengthen
New Zealand's Minister for Trade, Todd McClay, has confirmed a sharp upswing in trade and investment ties with the United Arab Emirates, with bilateral trade reaching NZ$1.3 billion (AED2.86 billion) in 2024.
The fourth quarter alone saw trade figures climb to NZ$400 million (AED880 million), underscoring the growing economic momentum between the two nations.
On the sidelines of the AIM Congress 2025 in Abu Dhabi, McClay credited the surge to the close alignment of both governments' visions and a shared commitment to deepening economic cooperation.
McClay highlighted a significant 60% increase in services trade, reflecting a broadening scope of collaboration beyond goods. UAE investments in New Zealand also exceeded NZ$200 million (AED440 million) last year, spanning strategic sectors such as food, infrastructure, and high-value industries.
He pointed to the Comprehensive Economic Partnership Agreement (CEPA) and other investment accords as key drivers opening new channels for capital flow—particularly in infrastructure and energy. 'These agreements are creating a solid framework for sustained and diversified economic engagement,'
he noted.
Currently, around 20 New Zealand companies are active in the UAE market, while several UAE firms are exploring opportunities to establish operations in New Zealand. McClay also spotlighted New Zealand's pro-investment climate, strengthened by a double taxation avoidance agreement offering preferential treatment to UAE sovereign wealth funds.
Looking ahead, McClay outlined New Zealand's ambitious infrastructure expansion, calling it a prime investment opportunity for UAE entities in construction and long-term asset management. He further welcomed investment in sectors such as renewable energy, agri-tech, AI, pharmaceuticals, and data centres, underscoring New Zealand's openness to future-focused, sustainable partnerships.
News Source: Emirates News Agency
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