NEW ZEALAND meat and dairy exporters have criticised the free-trade agreement Prime Minister Jacinda Ardern has secured with the European Union, reports Bloomberg.
The outcomes for dairy, new Zealand's biggest export, are 'very disappointing and reflect the degree of protectionism which continues to afflict dairy trade globally and particularly in the EU,' said the Fonterra Cooperative Group.
The Meat Industry Association also said the deal will see only a small quota for New Zealand beef into the EU that fell well short of expectations.
Ms Ardern announced the FTA overnight from Brussels, where she and Trade Minister Damien O'Connor lobbied to get an agreement over the line four years after negotiations started. They hailed it as a major achievement that will unlock New Zealand access to one of the world's biggest and most lucrative markets.
'It's a strategically important and economically beneficial deal that comes at a crucial time in our export-led Covid recovery,' she said. 'It delivers tangible gains for exporters into a restrictive agricultural market.'
Under the FTA, New Zealand export revenue to the EU is estimated to grow by up to NZ$1.8 billion (US$1.1 billion) annually by 2035.
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The outcomes for dairy, new Zealand's biggest export, are 'very disappointing and reflect the degree of protectionism which continues to afflict dairy trade globally and particularly in the EU,' said the Fonterra Cooperative Group.
The Meat Industry Association also said the deal will see only a small quota for New Zealand beef into the EU that fell well short of expectations.
Ms Ardern announced the FTA overnight from Brussels, where she and Trade Minister Damien O'Connor lobbied to get an agreement over the line four years after negotiations started. They hailed it as a major achievement that will unlock New Zealand access to one of the world's biggest and most lucrative markets.
'It's a strategically important and economically beneficial deal that comes at a crucial time in our export-led Covid recovery,' she said. 'It delivers tangible gains for exporters into a restrictive agricultural market.'
Under the FTA, New Zealand export revenue to the EU is estimated to grow by up to NZ$1.8 billion (US$1.1 billion) annually by 2035.
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