Brussels, 29/10/2015 (Agence Europe) - During a meeting of their leaders in Brussels on Thursday 29 October, the EU and New Zealand committed to implementing their new partnership agreement swiftly and to initiating the process for bilateral free trade negotiations.
The EU leaders - European Council President Donald Tusk and European Commission President Jean-Claude Juncker - and New Zealand's leader - Prime Minister John Key - met to deepen their bilateral relationship in the political, security, trade and investment spheres.
Both parties committed to implementing their new Partnership Agreement on Relations and Cooperation (PARC) swiftly. The PARC was concluded on 30 July 2014 and is due to replace the joint 2007 declaration that currently governs EU-New Zealand bilateral relations.
Both parties also committed “to start the process for negotiations to achieve swiftly a deep and comprehensive high-quality free trade agreement”, a joint statement says. Discussions to define the scope and overall approach to the negotiations should start “as soon as possible”, and alongside this, the two parties will take measures to obtain “the necessary authorisation” for launching the negotiations “on the basis of a successful scoping”.
On the sidelines of the leaders' meeting, European Commissioner for Trade Cecilia Malmström and New Zealand's Trade Minister Tim Groser discussed the “details” of this process.
On the EU side, the Commission will carry out an impact analysis of a free trade agreement with New Zealand with a view to proposing a negotiating mandate to the member states so that the process might be launched “in 18 months”, Malmström told press.
On the New Zealand side, Groser said he was “sure” the parties could “resolve all the sensibilities in due course during the negotiations process”.
“We have just completed politically the TransPacific Partnership (TPP) negotiations and of course we are extremely conscious that the other strategic aim of the US trade policy across the Atlantic is now well under way with the Transatlantic Trade and Investment Partnership (TTIP) negotiations. These are basically moving in the same direction. Although we are unfortunately very stuck in Geneva with the multilateral negotiations, we are advancing on multiple fronts and creating jobs and investment linkages. Piece by piece we are moving towards a high level of connectivity”, Groser added.
Bilateral trade between the EU and New Zealand reached €7.9 billion in 2014 (€4.5 billion in exports for the EU, €3.4 billion in exports for New Zealand) and trade in services rose to €3.6 billion in 2013 (€2.2 billion in exports for the EU, €1.4 billion in exports for New Zealand).
At the end of 2013, EU foreign direct investment (FDI) stock in New Zealand stood at €7.5 billion, and that of New Zealand in the EU stood at €1.8 billion.
Agreement on customs, and discussion on migration. Elsewhere, Juncker announced on Thursday that the EU and New Zealand had reached an agreement on customs, which would enter into force in November.
In addition, the leaders of the two parties spoke about migration issues. “This is a big concern for Europe and we would like to learn from our friends in New Zealand what we can do to organise and deal with the migration issue”, Juncker told press. Key recognised that this was “a common challenge”. (Original version in French by Emmanuel Hagry)