Starting on May 1, 2024, the Trade Agreement between the European Union (EU) and New Zealand (NZ) will come into effect, marking a milestone in the economic collaboration between both regions.
This agreement aims to facilitate and liberalize trade and investment between the EU and NZ. One of the key provisions of the agreement is the gradual elimination of tariffs over the next seven years for goods imported into both territories.
To take advantage of the tariff preferences offered by the agreement, valid origin tests have been established. These include a communication about the origin by the exporter or the importer’s knowledge that the product is of origin.
Additionally, new documents have been introduced to support origin tests, which must be declared in the Single Administrative Document (SAD) for imports to the EU. These documents, such as the Certificate of Origin (U120), the Certificate of Origin for multiple shipments of identical products (U121), and the Importer’s Knowledge (U122), will be essential to ensure compliance and facilitate trade processes.
We eagerly anticipate the benefits that this agreement will bring to trade and collaboration between the EU and New Zealand!