UK agrees trade deal with New Zealand
A trade deal between the UK and New Zealand has been agreed, the government has confirmed.
A Department for International Trade statement said the comprehensive trade agreement will cut?red tape for businesses, end tariffs on UK exports and create new opportunities for tech and services companies, while making it easier for UK professionals to live and work in New Zealand.
The deal was agreed in a video call this week between Prime Minister Boris Johnson and New Zealand Prime Minister Jacinda Ardern?after 16?months of talks by DIT negotiators.
UK-New Zealand trade was worth £2.3 billion last year. The Government says the deal will remove barriers to trade and deepen access for advanced tech and services companies, while making it easier for smaller businesses to break into the New Zealand market.
Tariffs as high as 10 per cent will be removed on a huge range of UK goods, from clothing and footwear to buses, ships, bulldozers and excavators, giving British exporters an advantage over international rivals in the New Zealand import market?- which is expected to grow by around 30 per cent by 2030.?
High-quality New Zealand products loved by British consumers, from Sauvignon Blanc wine to Manuka honey and kiwi fruits, could be cheaper to buy.?
UK workers will benefit from?improved?business travel arrangements?and?professionals such as lawyers and architects will be able to work in New Zealand more easily, allowing?UK?companies?to set up shop and?bring the best British talent with them.
Both sides have also committed to a mobility dialogue outside the trade agreement that will consider how people-to-people links can be deepened further.
Prime Minister Boris Johnson said: "This is a great trade deal for the United Kingdom, cementing our long friendship with New Zealand and furthering our ties with the Indo-Pacific.
"It will benefit businesses and consumers across the country, cutting costs for exporters and opening up access for our workers.
"This is a fantastic week for Global Britain. On Tuesday we raised almost £10bn in investment for the industries of the future, and this new deal will help drive green growth here and on the other side of the world in New Zealand."
New Zealand Prime Minister Jacinda Ardern said: "The United Kingdom and New Zealand are great friends and close partners. The historical connections that bind us run deep.
"This world-leading free trade agreement lays the foundations for even stronger connections as both countries embark on a new phase in our relationship. It is good for our economies, our businesses and our people."
International Trade Secretary Anne-Marie Trevelyan said: "This deal is a win-win for two like-minded democracies who believe in free and fair trade. It delivers for families, workers and businesses across Britain, and sets the stage for greater cooperation between our two nations on global challenges like digital trade and climate change.
"It is a vital part of our plan to level up the country: slashing costs and red tape for exporters, building new trade routes for our services companies and refocusing Britain on the dynamic economies of the Asia-Pacific."