Read NZIBF’s to the #IPEF Supply Chain Agreement announcement.
NZ EU FTA – A MIXED BAG, SAYS BUSINESS FORUM

Reacting to the overnight conclusion of negotiations for a free trade agreement between New Zealand and the European Union, the NZ International Business Forum (NZIBF), which brings together a cross section of major exporters, said the outcome was mixed in terms of export gains for New Zealand.
“This has been a complex and arduous negotiation. Our negotiators have clearly worked hard to achieve the best possible result in the circumstances and we thank them for their efforts. An ambitious, high quality and comprehensive FTA was the goal and we welcome the new opportunities which will be opened up through tariff elimination for several sectors including kiwifruit, apples, other horticulture, seafood and wine, as well as better access for services and manufactured products. Unfortunately the agreement does not deliver commercially meaningful outcomes for our largest exporters, dairy and meat”, said NZIBF Executive Director Stephen Jacobi.
Mr Jacobi said that dairy and meat exporters would gain access to only a marginal proportion of EU consumption, which is a missed opportunity and a really disappointing result.
“Even after full implementation the dairy and meat sectors will face small quotas and high tariffs, restricting their ability to grow the market in a commercially meaningful way. That means that the agreement’s usefulness in terms of trade diversification will be strictly limited and could set an unhelpful precedent for future negotiations”.
The agreement in principle contains some onerous provisions on geographical indications (GI).
“New Zealand producers will lose the right to use certain generic cheese names like feta and use of other names like parmesan will be curtailed. While a GI system was always going to be part of a final agreement, the restrictions placed on generic names are regrettable”.
Other aspects of the agreement appear more positive and forward looking, including a chapter on Māori economic co-operation and sustainability provisions. The agreement does not extend patent protections for pharmaceuticals, but the copyright term will be extended. The EU will enjoy better conditions for investment, including a higher investment screening threshold similar to other FTA partners and better access to government procurement.
“While we cannot at this point welcome the new agreement unreservedly, we will take time in coming days to review the detail of the outcome carefully”, concluded Mr Jacobi.
REGISTER WITH TRADE WORKS
Register to stay up to date with latest news, as well as saving and discussing articles you’re interested in.
Latest News
IPEF SUPPLY CHAIN AGREEMENT – A USEFUL BUT MODEST STEP – BUSINESS FORUM
Media release, 29 May 2023 “Supply chains are the arteries of global trade – any moves to make them function more efficiently and make sure they are resilient in times of crisis are to be welcomed”, says NZIBF Executive Director Stephen Jacobi. Mr Jacobi was reacting...
SINGAPORE AND NEW ZEALAND – A MOST “FTA-ed” RELATIONSHIP
Stephen Jacobi continues his posts from his Singapore sojourn. Spending time in Singapore reminds me of the several visits I made in 2000-02 when I was serving as Private Secretary to Trade Minister Jim Sutton. Jim concluded the first free trade agreement with...
ADDRESS TO THE 52nd ONE STOP UPDATE FOR THE ACCOUNTANT IN BUSINESS
CHRISTCHURCH, WELLINGTON, AUCKLAND, MAY 2023 STEPHEN JACOBI, EXECUTIVE DIRECTOR,NZ INTERNATIONAL BUSINESS FORUM GLOBAL ECONOMIC UPDATE Thanks to our friends at Brightstar for having me back again to provide the global economic update. I’ll be talking at a macro level...
RESILIENT SUPPLY CHAINS – FROM THE 9th CENTURY TO THE 21st
I am spending some extended time in Singapore. This gives me the opportunity to see things from the vantage point of this amazing trade hub of the Asia Pacific. From the sight from the plane of container ships – lots and lots of them – in the...
Asia Pacific Business Leaders Call for Forging a New Path on Inclusion, Resilience, and Sustainability
Bandar Seri Begawan, 30 April 2023 - APEC Business Advisory Council (ABAC) members this week urged APEC Trade Ministers to leverage the challenges facing the region, including environmental risks, financial stress and the cost-of-living crisis, as opportunities to...
Entry into force of FTA ushers in new era for NZ UK trade
Media release, 5 May 2023 The NZ International Business Forum (NZIBF) welcomes the announcement that the NZ UK Free Trade Agreement will enter into force on 31 May 2023. “When so many around the world are turning their back on trade liberalisation, New Zealand and the...
Remarks to ASEAN Business Council Webinar, 26 April 2023
REMARKS TO ASEAN NZ BUSINESS COUNCIL WEBINAR, 26 APRIL 2023 STEPHEN JACOBI, EXECUTIVE DIRECTOR WHEN ELEPHANTS FIGHT - US/CHINA TENSIONS AND IMPLICATIONS FOR ASEAN It’s great to join this webinar with my good friend Siah Hwee Ang. Thanks to the ASEAN NZ Business...
Business Forum welcomes report’s strategic approach to Indian market
Media release, 27 April 2023 The NZ International Business Forum (NZIBF) welcomes the discussion document India & New Zealand, A Relationship Ready For Its Next Phase released today by the India New Zealand Business Council (INZBC). “INZBC and the report’s authors...
Remarks to Confederation of Indian Industry Partnership Summit, New Delhi, 15 March 2023
"The Future of Multilateralism" by Stephen Jacobi, NZIBF Executive Director Namaskar Tēnā koutou katoa – greetings to you all in the language of the Māori people of Aotearoa New Zealand. It is an honour for me to speak to such a distinguished gathering today....
AMIDST THE STORM: ABAC MEETS IN AUCKLAND
Perhaps a cyclone was after all a fitting backdrop for the meeting of the APEC Business Advisory Council (ABAC) which was held in Auckland on 12-14 February – the global environment against which the meeting took place is decidedly stormy. In the event the wind...
Asia-Pacific business leaders call for action on climate and economic inclusion
APEC NEWS RELEASE Issued by The APEC Business Advisory Council (ABAC) Auckland, 14 February 2023 - Members of the APEC Business Advisory Council (ABAC) met in Auckland, New Zealand this week to develop a work plan that calls on policymakers to leverage trade and...
ASIA-PACIFIC BUSINESS LEADERS GATHERING IN AUCKLAND, 12-14 FEBRUARY 2023
Media Release - 8 February 2023 Equity, sustainability and opportunity are key themes of one of the largest gatherings of senior Asia-Pacific business leaders held in New Zealand for some time. The APEC Business Advisory Council (ABAC) is due to meet in Tāmaki...
A YEAR FOR RECONNECTING
As I write this end of year dispatch, NZIBF is preparing to host the first meeting for 2023 of the APEC Business Advisory Council (ABAC). We are looking forward to welcoming the 200 or so business leaders and senior officials from APEC member economies across the...
MAJOR GATHERING OF ASIA-PACIFIC BUSINESS LEADERS TO BE HELD IN AUCKLAND, 12-14 FEBRUARY 2023
Media Release - 14 December 2022 Sustainability, digitalisation and resilient, inclusive trade will be key themes of a major gathering of senior Asia-Pacific business leaders to be held in Auckland early next year – the first such event to be held in New Zealand...
NZ Herald: Time to lift our game in India
Following his recent visit to India our Executive Director Stephen Jacobi penned this article advocating a more strategic approach to the further development of the relationship. The article was published by the NZ Herald on 9 December.