The deal will reduce red tape for companies, end of rates on UK export, and create new opportunities for tech and service companies, according to a Downing Street statement.
Prime Ministers Boris Johnson and Jacinda Ardern sealed the deal in a joint Zoom call, after 16 months of negotiations.
“This is a great trade agreement for the United Kingdom, the confirmation of our long friendship with New Zealand and fostering our ties with the Indo-Pacific,” Johnson said.
The deal follows advanced free trade agreements already hit by the United Kingdom in the region with Australia and Japan.
“This deal is for New Zealand’s economy and exporters, as we reconnect, rebuild and recover from Covid-19, and look forward in the futureArdern said to a… news conference in Wellington.
All rates on all products are eliminated between both countries. UK New Zealand trade used to be worth £2.3 billion ($3.2 billion) last year and is set grow under the new regulation.
During the Zoom call, Johnson said New Zealand products will be loved by UK consumers available for cheaper, from Sauvignon Blanc wine to Manuka honey and kiwifruit.
Ardern, meanwhile, mentioned the United Kingdom and New Zealand”great friends and good partners.”
“The Historical Connections die tie” us run deep,” she said, adding that the… trade appointment is “good for our economies, our businesses and our people.”
Read More: World News
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