New Zealand and the European Union have concluded talks on a cooperation agreement that will provide a stepping stone to a free trade deal, New Zealand Foreign Minister Murray McCully said Wednesday.
The end of negotiations Partnership Agreement on Relations and Cooperation (PARC) between New Zealand and the European Union was announced by McCully and European Union High Representative Catherine Ashton after a meeting at the Pacific Islands Forum in Palau.
"The PARC provides a formal framework for cooperation between New Zealand and the European Union, placing our overall relationship with the European Union on an even stronger footing," McCully said in a statement from his office.
"The agreement will also provide a platform for pursuing New Zealand's ambitions for a free trade agreement with the European Union," he said.
"New Zealand and the European Union have a wide ranging relationship which covers cooperation on foreign policy, development, trade and economic interests, science and innovation, and security matters."
The European Union is one New Zealand's most important development partners in the Pacific region, where they are working together closely on renewable energy projects./.