SYDNEY (Reuters) – New Zealand signed a trade deal on Saturday with Switzerland, Costa Rica and Iceland to remove tariffs on hundreds of sustainable goods and services, in a move Wellington says will boost the country’s export sector.

The Agreement on Climate Change, Trade and Sustainability (ACCTS) was signed at a ceremony during the Asia-Pacific Economic Cooperation (APEC) in Peru on Saturday after being struck in July, Trade and Agriculture Minister Todd McClay said in a statement.

“This agreement removes tariffs on key exports including 45 wood and wool products — two sectors that are vital to achieving our goal of doubling New Zealand’s exports by value in 10 years,” McClay said.

© Reuters. Mexico's Deputy Foreign Trade Minister Luis Rosendo Gutierrez, New Zealand's Prime Minister Christopher Luxon and Papua New Guinea's Deputy Prime Minister John Rosso attend the Asia-Pacific Economic Cooperation (APEC) summit in Lima, Peru, November 15, 2024. REUTERS/Leah Millis

“It will also reduce costs for consumers, removing tariffs on hundreds of other products, including insulation materials, recycled paper, and energy-saving products such as LED lamps and rechargeable batteries.”

The deal prioritised New Zealand’s “sustainable exports”, he said, amid a roll back by the country’s centre-right government of environmental reforms in a bid to boost a flailing economy. Exports make up nearly a quarter of New Zealand’s economy.

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