$20 million deal for New Zealand seafood secured with a signed EU- New Zealand FTA

Published 2023년 7월 11일

Tridge summary

New Zealand seafood has secured a $20 million deal with the European Union through a signed Free Trade Agreement (FTA). The FTA, which was signed in Brussels, will result in tariff reductions for New Zealand seafood exports, leading to increased earnings for the sector. The agreement, which has been eagerly awaited by the commercial seafood sector, will eliminate tariffs on almost all fish and shellfish and is expected to have a positive impact on the industry.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

$20m deal for New Zealand seafood secured with a signed EU-NZ FTA. New Zealand seafood will gain $20 million in tariff reductions when the Free Trade Agreement (FTA) with the European Union comes into force in the first quarter of 2024. The FTA was signed in Brussels on 9 July, slightly more than one year to the date that FTA negotiations concluded. The elimination of tariffs (a tax imposed on imported products) will considerably increase the earnings from New Zealand seafood exports, says Seafood New Zealand chief executive, Dr Jeremy Helson. “New Zealand seafood exports were forecast to rise 8% to $2.1 billion for the year just ended, and by a further 2% by 30 June next year, driven by a recovery in demand and high prices due to the reopening of the food service industry after Covid-19. “New Zealand commercial fishers are stepping up to meet the demand and maintain our global reputation for high-quality, sustainable wild-caught fish. The impact of this deal will be felt across ...

Source: Fish Focus