The Declaration sets out a detailed action programme for the EU and New Zealand in such areas as global and regional security, counter-terrorism and human rights, development and economic cooperation, trade, climate change as well as science and technology.

[3] The EU and New Zealand have also negotiated a number of sectoral agreements designed to facilitate access to each other's markets and reduce exporters’ costs.

Senior officials' consultations on trade, agriculture, fisheries, and science & technology take place every year alternating between Brussels and Wellington.

[10] In April 2018, New Zealand Prime Minister Jacinda Ardern lobbied for a free trade agreement with the European Union and received the backing of French President Emmanuel Macron.

Under the terms of the agreement, all tariffs on European Union exports to New Zealand including agricultural and food products would be lifted.

In return, duties would be lifted on 97% of New Zealand exports to the European Union; with over 91% being removed on the day that the free trade agreement comes into effect.

[14] On 9 July 2023, Prime Minister Chris Hipkins and President of the European Commission Ursula von der Leyen formally signed the New Zealand-European Union free trade agreement in Brussels.