Charles Finny: Former Trade Negotiator on the free trade agreement with the United Arab Emirates that could be signed today

A lucrative free trade agreement with the United Arab Emirates could be signed into action today. 

Trade Minister Todd McClay is meeting with his Emirati counterpart as part of his three-day visit to Wellington. 

Negotiations for the FTA began in May, meaning it would be less than 100 days to get it over the line. 

Former trade negotiator Charles Finny told Mike Hosking there's huge potential for growth. 

He says we're looking at 5% tariffs on some dairy products and frozen meats, and taking that off would be really, really useful. 

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Episode Transcript

Speaker 1 (00:00):
So we're expecting the f T a free trade arrangement
with the UAE to be wrapped up, possibly signed off
this afternoon. Australia got these across the line a week ago.
Our negotiations only began in May. So if today is
the day, it's been done at record pace, forming New
Zealand trade negotiated. Charles phinneysback, Well, there's Charles morning to you.

Speaker 2 (00:16):
Good morning mate.

Speaker 1 (00:16):
Are the UAE the goods are they are? These are
the sort of people we want to deal with. Is
this got that gold standard UK vibe about it?

Speaker 2 (00:24):
Yeah? I think this is quite exciting. Hopefully the rumors
are true and there will be an announcement maybe today.
If all signs are that this would be a really
high quality free trade agreement with pretty much all our
trade covered and pretty much everything being liberalized by entry

(00:44):
into force. It's already a billion dollar market for us.
And there's his potential for growth?

Speaker 1 (00:49):
Ah and is that not the key? And all FTAs
what is the potential? How do you see it growing
and buy how much?

Speaker 2 (00:57):
Well, it's always hard to quantify get economists to make predictions.
Usually these are to shoot by a huge margin. That's
been the case in pretty much all our free trading
pre minutes. In this case, UE is fairly liberal. So
we're looking at for five percent tariffs on some dairy
products and frozen meat, beef and lamb. Take that off.

(01:20):
That's going to be really, really useful. The other point
is that the EUE is not just negotiating with US,
as you noted, they've done a deal with Australia, they're
negotiating with the EU. They actually, I think, are negotiating
or have completed agreements with twenty six other parties. So
if we're not part of that list, we're in trouble.
Our exploits will start using market share will be able.

Speaker 1 (01:40):
Similar do you think or no with Australia. So it's
like for like with Australia because Australia head a tremendous
it will still do with the EU deal we signed
ours off.

Speaker 2 (01:51):
Well, I think this will be of higher quality than
in terms of agriculture. Then we achieved with the EU
and the problems that Australia is facing with the EU
will not be there in this agreement.

Speaker 1 (02:06):
No, is this just what like minds. If you're aligned ideologically,
you can do business really efficiently and really fast, and
that's what this boils down to.

Speaker 2 (02:17):
Yeah, I think that THEE is desperately keen to diversify
its sources of wealth away from oil and gas, and
they're trying to build a whole whole new economy and
being open to investment and trade with multiple parties is
all part of that mix. I like it.

Speaker 1 (02:37):
Let's hope it comes to pass This afternoon, Charles Finny,
former New Zealand trade negotiator.

Speaker 2 (02:42):
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