On 27 June, the Council adopted a decision on the signature of the free trade agreement (FTA) with New Zealand. The EU and New Zealand are expected to sign the agreement later on. The FTA will liberalise and facilitate trade and investment, as well as promote a closer economic relationship, which will open significant economic opportunities for companies and consumers on both sides. The EU is New Zealand’s third-biggest trade partner. Bilateral trade in goods between the two partners has risen steadily in recent years, reaching almost €9,1bn in 2022. Once the agreement enters into force, bilateral trade is expected to grow by up to 30% thanks to this deal, with EU annual exports potentially growing by up to €4.5 billion. EU investment into New Zealand has a potential to grow by up to 80%. The deal can cut some €140 million a year in duties for EU companies from the first year of application.