A free trade deal between New Zealand and the United Arab Emirates could be signed off as early as Thursday, 1News understands.
The UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi arrived at Parliament this evening.
He received a traditional Māori pōhiri as an official welcome on Parliament’s forecourt.
Al Zeyoudi is meeting with New Zealand Trade Minister Todd McClay to “iron out” the final details of a free trade agreement between the two countries.
The ministers are believed to be negotiating some of the “remaining sticky issues” that need ministerial engagement, particularly on some of the products that are “important” to New Zealand exporters.
1News understands that a trade deal could be signed off as early as tomorrow.
If that were to be the case, it’s believed it would go down as one of New Zealand’s fastest trade deals.
The UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi arrived at Parliament this evening. (Source: 1News)
Negotiations began just four months ago in May, meaning it would be less than 100 working days to get the deal across the line.
It’s understood the quality of the deal is “very high” and “very ambitious”.
Two-way trade with the UAE is valued at $1.3 billion a year – around $1.1 billion of which is made up of New Zealand exports.
In a statement announcing the visit by Al Zeyoudi, McClay said he wanted to grow that overall figure “together”.
“I’m delighted to welcome my colleague and friend, Minister Al Zeyoudi to New Zealand,” he said.
“The UAE is one of our closest partners and a key export destination in the Gulf region, and we are focused on deepening our connections across a range of areas.”