EU opens up market to more NZ beef, lamb and dairy
The European Union and New Zealand completed negotiations on Thursday for a free trade agreement that could boost goods and services business between the two partners by 30pc.
However, the EU will open up to more dairy products and beef from New Zealand, a sensitive area for some EU countries, particularly Ireland.
For these sectors, the agreement will allow zero or lower tariff imports from New Zealand only in limited amounts (through so-called Tariff Rate Quotas).
For beef, the EU will allow a tariff rate quota of 10,000 tonnes to be imported with reduced duty of 7.5%. This volume will be gradually phased in over 7 years from the entry into force of the agreement.
In terms of sheepmeat, the EU will allow a tariff rate quota of 38,000 tonnes to be imported duty free phased in over 7 years.
Increased dairy imports will also be allowed under the deal. A tariff rate quota of 15,000 tonnes of milk powder will be opened with 20% MFN duty. This volume will be gradually phased in over 7 years from the entry into force of the agreement.
Ciaran Moran and Philip Blenkinsop / Independent.ie
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