Dr. Thani bin Ahmed Al Zeyoudi Strengthens UAE’s Trade Ties with New Zealand and Australia
Dubai [UAE], September 28: Dr. Thani bin Ahmed Al Zeyoudi, the UAE’s Minister of State for Foreign Trade, recently visited New Zealand and Australia to enhance economic relationships. He led a high-level UAE business delegation and concluded negotiations for a Comprehensive Economic Partnership Agreement (CEPA) with New Zealand, which will boost trade and investment between the two countries.
Meetings in New Zealand
In New Zealand, Dr. Al Zeyoudi met with senior officials, including Hon. Todd McClay, Minister for Trade, and Hon. Nicola Willis, Minister of Finance. They discussed economic goals and collaboration opportunities. Dr. Al Zeyoudi and Minister McClay also participated in a Q&A session with the National Party in New Zealand’s parliament, emphasizing their commitment to strengthening political and economic ties.
A business roundtable was organized to connect the UAE delegation with New Zealand businesses, focusing on sectors like agri-tech, renewable energy, technology, and logistics. The UAE is New Zealand’s largest trading partner in the Middle East, with non-oil trade reaching $768 million in 2023, a 16% increase from 2019. The first half of 2024 saw trade volume reach $460.3 million, an 11.5% increase from the same period last year.
Statements from Leaders
Dr. Al Zeyoudi stated, “The UAE and New Zealand share a strong commitment to building an innovative and resilient trade relationship. Our growing ties create new avenues for businesses to collaborate, particularly in sectors such as the green economy, supply chain management, food security, and advanced technology.”
Hon. Todd McClay added, “We welcome this new phase in our relationship with the UAE. The deepening trade ties between our nations provide a robust framework for fostering growth and prosperity for both countries.”
Visit to Australia
In Australia, Dr. Al Zeyoudi met with Hon. Don Farrell, Australia’s Minister for Trade and Tourism. They discussed the timelines for signing and implementing the CEPA between their countries and aligning their customs departments. Dr. Al Zeyoudi also addressed a business roundtable in Melbourne, focusing on sectors like food security, renewable energy, mining, logistics, and tourism.
Strengthening relations with the broader Oceania region will support regional supply chain resilience and promote sustainable development. The CEPAs with Australia and New Zealand will help the UAE achieve its target of AED4 trillion ($1.1 trillion) in non-oil trade by 2031.
Dr. Al Zeyoudi was accompanied by a UAE delegation that included Rashed Abdulkarim Al Blooshi, Undersecretary of the Abu Dhabi Department of Economic Development; Ahmed Khalifa Al Qubaisi, CEO of the Abu Dhabi Chamber of Commerce & Industry; and senior officers from Dubai Chambers, Sharjah Chamber of Commerce & Industry, Etihad Airways, and DP World, among others.
Doubts Revealed
Dr. Thani bin Ahmed Al Zeyoudi -: He is a government official from the United Arab Emirates (UAE) who works on foreign trade.
UAE -: UAE stands for the United Arab Emirates, a country in the Middle East.
New Zealand -: New Zealand is a country located in the southwestern Pacific Ocean.
Australia -: Australia is a large country and continent located in the Southern Hemisphere.
Comprehensive Economic Partnership Agreement (CEPA) -: CEPA is a type of trade agreement that helps countries trade more easily with each other.
agri-tech -: Agri-tech means agricultural technology, which includes new tools and methods to improve farming.
renewable energy -: Renewable energy comes from natural sources like the sun and wind, which don’t run out.
logistics -: Logistics is the process of planning and managing the movement of goods and services.
supply chain resilience -: This means making sure that the process of producing and delivering goods can handle problems and keep working smoothly.
sustainable development -: This means creating ways to grow and develop that do not harm the environment and can last a long time.
AED4 trillion -: AED is the currency of the UAE, and 4 trillion is a very large amount of money.
non-oil trade -: This means trading goods and services that are not related to oil.
