New Zealand Wood and Wool to Benefit Through New Sustainable Trade Deal

New Zealand 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.

“The Agreement on Climate Change, Trade and Sustainability (ACCTS) opens up commercial opportunities for New Zealand businesses by focusing on trade in sustainable goods and services. Crucially for New Zealand, it will see tariffs removed on key exports including 41 wood products and wool,” said New Zealand Trade and Agriculture Minister Todd McClay.

“It will also remove tariffs on hundreds of other products, including wool fibre, slag wool for insulation, recycled paper along with 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.”

“ACCTS will open new markets for New Zealand exporters and grow in benefit over time as more countries join,” added McClay.

This trade agreement is the first New Zealand has concluded with these countries outside of the WTO, and is set to deliver new, high-quality, trade opportunities while tackling climate and sustainability challenges.