Trade and Agriculture Minister Todd McClay has concluded a groundbreaking trade deal with Costa Rica, Iceland, and Switzerland to remove tariffs on hundreds of products that benefit sustainability and the environment.
This Agreement on Climate Change, Trade and Sustainability (ACCTS) has opened up commercial opportunities for New Zealand businesses by focusing on sustainable goods and services trade.
Crucially for New Zealand, tariffs will be removed on key exports, including 41 wood products and wool. Tariffs will also be removed on hundreds of other products, including wool fibre, slag wool for insulation, recycled paper, and energy-saving goods like LED lamps and rechargeable batteries.
“In addition, it supports New Zealand’s renewable energy sector by establishing rules to prevent harmful fossil fuel subsidies and sets guidelines for ecolabelling,” said McClay.
“ACCTS will open new markets for New Zealand exporters and grow in benefit over time as more countries join.”
This trade agreement was the first that New Zealand concluded with these countries outside the WTO. It will deliver new, high-quality trade opportunities while tackling climate and sustainability challenges.
“Only through a strong economy can we lift incomes, reduce the cost of living and provide Kiwis the public services they deserve. The ACCTS deal helps to achieve this."
