New Zealand signed the Agreement on Climate Change, Trade, and Sustainability (ACCTS) with Costa Rica, Iceland, and Switzerland, focusing on sustainable trade and addressing climate challenges.
New Zealand has signed a groundbreaking trade deal, known as the Agreement on Climate Change, Trade, and Sustainability (ACCTS), with Costa Rica, Iceland, and Switzerland. The agreement, outside the World Trade Organization, aims to deliver new high-quality trade opportunities while addressing climate and sustainability challenges. The ACCTS focuses on trade in sustainable goods and services, eliminating tariffs on New Zealand's key exports such as wood products and wool, as well as on other environmentally-friendly products like recycled paper, LED lamps, and rechargeable batteries. The deal also supports New Zealand's renewable energy sector by establishing rules against harmful fossil fuel subsidies and setting guidelines for ecolabelling, opening new markets for exporters.