Sydney: New Zealand has taken a significant step towards addressing climate change and sustainability challenges by signing trade deals with Switzerland, Costa Rica, and Iceland. These agreements aim to remove tariffs on hundreds of environmental products, promoting a greener economy.
The Agreement on Climate Change, Trade, and Sustainability (ACCTS) is expected to benefit New Zealand’s wool industry significantly, according to Trade and Agriculture Minister Todd McClay.
McClay stated, “ACCTS will open new markets for New Zealand exporters and grow in benefit over time as more countries join.” Over 300 environmental goods, including solar panels, wind turbines, electric vehicles, and wood products, will have tariffs eliminated under this agreement.
Norway is also contemplating joining the agreement, showcasing global interest in sustainable trade practices.
Published 02 July 2024, 07:31 IST