World Bulletin / News Desk
"The negotiations will aim at removing barriers to trade in goods and services, as well as developing trade rules to make trade easier and more sustainable," the commission said.
Commissioner for Trade Cecilia Malmstrom and New Zealand's Minister for Trade David Parker attended the launch.
"Today is an important milestone in EU-New Zealand relations. Together, we can conclude a win-win agreement that offers benefits to business and citizens alike," Malmstrom said in the statement.
She added the agreement is an "excellent" opportunity to set ambitious common rules and shape globalization, making trade easier while safeguarding sustainable development.
The statement said that the first formal round of talks between the respective sides' teams of negotiators will take place in Brussels from July 16 to July 20.
According to the commission, the EU is New Zealand's third biggest trade partner and the agreement could increase trade in goods by almost 50 percent.