Trade and Agriculture Minister Todd McClay with officials from Switzerland, Costa Rica and Iceland sign the Agreement on Climate Change, Trade and Sustainability (ACCTS). Photo: Supplied / New Zealand Ministry of Foreign Affairs and Trade
The Agreement on Climate Change, Trade and Sustainability (ACCTS) was signed at a ceremony during the Asia-Pacific Economic Cooperation (APEC) in Peru on Saturday (local time) after being struck in July, Trade and Agriculture Minister Todd McClay said in a statement.
"This agreement removes tariffs on key exports including 45 wood and wool products - two sectors that are vital to achieving our goal of doubling New Zealand's exports by value in 10 years," McClay said.
"It will also reduce costs for consumers, removing tariffs on hundreds of other products, including insulation materials, recycled paper, and energy-saving products such as LED lamps and rechargeable batteries."
The deal prioritised New Zealand's "sustainable exports", he said, amid a rollback by the country's centre-right government of environmental reforms in a bid to boost a flailing economy. Exports make up nearly a quarter of New Zealand's economy.
- Reuters
