EU And New Zealand Boost Cooperation

by Ulrika Lomas, for LawAndTax-News.com, Brussels

24 September 2007

Representatives from New Zealand and the European Union on Friday adopted a new 'Joint Declaration on Relations and Cooperation' in Lisbon, at the EU-New Zealand Troika Consultations at ministerial level.

The agreement covers the varied areas of cooperation between New Zealand and Europe, and will serve as the anchor for the relationship for the next five years.

Commissioner for External Relations and European Neighbourhood Policy Benita Ferrero-Waldner announced that:

“New Zealand is a close partner for the European Union in the Pacific region and beyond. This new Joint Declaration upgrades and strengthens our bilateral relationship. It opens the way for extended cooperation in important areas like bilateral trade and investment, security in the region, energy security, climate change and the fight against terrorism.”

Commissioner Ferrero-Waldner added: "It is very important to join efforts especially in the area of climate change where both the EU and New Zealand are working intensely to ensure a successful outcome to the Bali conference on a post-Kyoto scheme."

This new Joint Declaration replaces and merges the 1999 Joint Declaration and the 2004 Action Plan.

The EU is New Zealand’s second biggest trade and investment partner after Australia. In 2005, total two-way trade amounted to EUR6197 million, representing 16% of New Zealand’s total trade.

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