Export New Zealand celebrates the Government’s announcement that a Free Trade Agreement (FTA) with the United Kingdom will soon come into force, on 31 May.
ExportNZ Senior Policy Advisor Josh Tan calls the NZ-UK FTA “A comprehensive and modern Free Trade Agreement that will deepen the NZ-UK economic relationship”.
“This agreement is great news for New Zealand exporters and the market access package is one of the best New Zealand has been able to negotiate.
“We’ll see 99.5 per cent of current exports entering into the UK tariff-free once the deal enters into force and a clear path to 100 per cent tariff elimination for NZ exporters to the UK. That’s good news for British consumers that like our sauvignon blanc and spring lamb, and good for Kiwi exporters.
“With this agreement, as well as the UK’s accession to the CPTPP agreement, the NZ-UK economic relationship will flourish over the coming years.”
BusinessNZ Chief Executive Kirk Hope says two-way trade between NZ and UK was worth around six billion dollars annually pre-Covid and is set to increase following this announcement.
“This agreement signals to British investors that New Zealand continues to be an attractive, stable, and transparent investment environment.
“It’s great to see an FTA with the United Kingdom get over the line. New Zealand’s negotiators have worked hard and worked quickly to secure a deal that works for both countries. We congratulate all those involved in completing this deal and look forward to a closer NZ-UK relationship.”
