European Union (EU) Trade Commissioner, Maroš Šefčovič, and Forestry and Trade and Investment Minister, Todd McClay, adopted a joint declaration to focus on reducing costs and boosting bilateral trade during the first inaugural NZ-EU Trade Committee meeting, part of the Business Summit, hosted by New Zealand in Queenstown recently.

They also discussed the EU’s Deforestation Regulation, which is due to be implemented on 1 January 2026 with exemptions during the first six months.

“I am pleased the Commissioner has recognised that New Zealand is honouring its commitments under the FTA around environmental and climate change and that we contribute to afforestation. We have agreed to work together to reduce costs and compliance on Kiwi and European exporters and ensure they continue to have fair access under our trade agreement,” Mr McClay says.

“The EU is one of New Zealand’s most important and trusted partners. There is potential to deepen our relationship across trade, investment, technology and innovation. We have agreed to reduce non-tariff barriers between New Zealand and the 27 member countries of the European Union,” Mr McClay says.

“This visit was a valuable opportunity to showcase world-class Kiwi exporters and highlight investment potential in New Zealand’s fast-growing tech companies.”

Two-way goods and services trade between New Zealand and the EU was worth NZ$21.58 billion in the year to June 2025, with New Zealand exports having increased by $2 billion since the FTA entered into force last year.

“We’re seeing strong growth in exports to the EU across sectors - from forestry, meat, dairy and honey to high-tech goods and services, pushing us towards the goal of doubling the value of exports in 10 years,” he adds.