Todd McClay, New Zealand’s Minister for Trade, confirmed the rapid expansion of economic relations with the United Arab Emirates, revealing that bilateral trade reached NZ$400 million (around AED 880 million) in Q4 2024. This brings the total annual trade volume to NZ$1.3 billion, or AED 2.86 billion.
During the AIM Congress 2025 in Abu Dhabi, McClay attributed this consistent growth to the shared strategic vision and strong collaboration between both governments in advancing trade and investment.
He noted a substantial rise of up to 60 percent in the services sector, underlining the depth and resilience of bilateral partnerships.
McClay reported that direct UAE investment into New Zealand surpassed NZ$200 million (AED 440 million) in 2024, directed towards food, infrastructure, and manufacturing sectors. He pointed to key agreements, such as the Comprehensive Economic Partnership Agreement (CEPA), which are facilitating increased investment, particularly in infrastructure and energy.
Approximately 20 New Zealand firms are currently operating in the UAE, and discussions are ongoing with UAE companies aiming to establish a presence in New Zealand. McClay stressed that New Zealand’s favourable investment landscape is supported by bilateral accords, including a double taxation avoidance agreement offering preferential tax status for UAE sovereign wealth funds.
He further noted that New Zealand’s infrastructure expansion plan provides lucrative prospects for UAE investors interested in construction, operation and long-term asset management. Additionally, he invited UAE participation in renewable energy projects—wind, solar, and geothermal—as well as high-growth sectors like agri-tech, AI, pharmaceuticals, processing industries, and data centres.
