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New Zealand and Gulf states finalize free trade pact

Tuesday, November 3, 2009
dpa


WELLINGTON -- New Zealand and the six states of the Gulf Cooperation Council (GCC) have concluded a free trade agreement, Trade Minister Tim Groser announced Monday. But details of the deal, involving Bahrain, Oman, Kuwait, Saudi Arabia, the United Arab Emirates and Qatar, remain under wraps until a legal verification process is completed and ministers sign it next year, Groser said. He said New Zealand exports to the GCC had risen 218 percent over the last nine years to NZ$1.3 billion (US$923 million) and two-way trade was worth NZ$3.85 billion.

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