New Zealand Signs Tariff-Free Trade Deal

As global leaders convene at COP29 in Baku, Azerbaijan, the urgency for collective action against climate change is highlighted, while concerns arise over the rise of green protectionism, which threatens to hinder international efforts and exacerbate disparities between developed and developing nations. The protectionist measures, including tariffs on green technology imports, could slow down the necessary transition to sustainable practices. In contrast, New Zealand has taken a proactive step by signing the Agreement on Climate Change, Trade, and Sustainability with Switzerland, Costa Rica, and Iceland, aimed at removing tariffs on sustainable goods and services. This trade deal is expected to boost New Zealand's economy, particularly in the wood and wool sectors, and lower costs for consumers on eco-friendly products. The agreement represents a commitment to support sustainable exports despite recent domestic rollbacks on environmental reforms. The ongoing discussions at COP29 underscore the need for global cooperation and the importance of equitable climate finance commitments from developed countries.