Nz Uk Free Trade Agreement

When asked what New Zealand offered the UK as a trading partner, he replied: “We offer a country that can make trade deals first.” Until the end of the transition period (currently 31 December 2020), the UK will remain a member of the EU, including the EU single market and customs union, and so New Zealand trade will not change. A free trade agreement will help exporters and consumers while maintaining important standards for New Zealanders. New Zealand and Britain officially began free trade negotiations today. In addition to talks on a trade deal with the EU, however, it has opened trade negotiations with a number of countries outside the bloc. Stay in touch to share your views on the New Zealand-UK Free Trade Agreement. The UK opened trade talks with New Zealand in July, but will only be able to sign an agreement next year. A trade deal with New Zealand is an “essential” part of helping the Uk economy recover from the coronavirus collapse, Britain said. Trade Minister Liz Truss when Britain began formal talks with Wellington. In June, the UK government announced its intention to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a free trade agreement involving 11 Asia-Pacific countries, including Canada, Australia, Japan, Vietnam and New Zealand. So far, the UK has agreed on conditions for exceeding 20 of these existing agreements, covering 50 countries or territories and most often with smaller trading partners. In an interview with Times Radio, Peters said the “recipe” for a deal “could have been practically signed” already.” “As the UK begins its next steps after Brexit, New Zealand is pleased to be among the first countries to negotiate a trade deal with one of our longest-standing friends,” said David Parker, Minister of Trade and Export Growth. Leaving the EU allows the UK to develop its own new trade agreements with other countries, including New Zealand.

Both sides stressed their commitment to swiftly conclude a quality, comprehensive and inclusive trade agreement. The UK is in parallel in talks with other competing export markets, including Australia. If these countries enter into agreements that deviate from what has been agreed with New Zealand (including different tariff reductions or other non-tariff hemissie agreements), this could have repercussions for New Zealand exporters. It would appear that Australia is highly motivated to reach a free trade agreement with the UK following a recent chinese government intervention against Australian exporters and is prioritising its agricultural sector. “We think we are absolutely fit and ready to go – we only need the British to realise that you can make more than one trade deal at the same time.” If the EU and the UK do not conclude a free trade agreement, the UK and the EU will act under non-preferential terms defined by World Trade Organisation (WTO) rules. The customs agreement between the EU and New Zealand is not affected by Brexit. The impact of Brexit on the EU-New Zealand Free Trade Agreement depends on the final agreement between the EU and the UK. In comments to POLITICO, Truss added that a deal will be a step toward joining a free trade agreement with a group of Asia-Pacific nations. . . .

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