EU-New Zealand Collaboration Agreement

by:MICHAEL KYPRIANOU & CO LLC

On 14 July 2017 the Government Gazette published the Law which approved the partnership agreement on relations and cooperation between the European Union and its member states, of the one part, and New Zealand, of the other part.

The Agreement was signed on 5 October 2016 in Brussels and its purpose is to establish enhanced collaboration between the parties and to deepen and improve cooperation on issues of common interest, in the light of shared values and principles, inter alia through the strengthening of the high level dialogue.

In the agreement, reference is made to cooperation in the following, inter alia, areas:

  • Trade and Sustainable Development: The parties agree to cooperate to promote international and bilateral trade and investment so as to contribute to sustainable development.
  • Taxation: The parties agree to work towards improving international tax cooperation, facilitating the collection of legitimate tax revenues and developing measures to implement the principles of good governance in the tax area, i.e. transparency, exchange of information and fair tax competition.
  • Economic and Trade Issues: The parties agree to cooperate within the World Trade Organization with a view to further freedom of trade.
  • Tourism: The parties agree to collaborate with a view to increasing tourism in both directions between the European Union and New Zealand.