Minister for Trade and Export Growth David Parker says New Zealand and the United Kingdom have formally launched free trade negotiations which will kick-off via video conference from mid-July.
Parker says New Zealand and the United Kingdom have a close relationship featuring strong trade and economic ties, common values and traditions and a shared history. A free trade agreement, he adds, will be an important new milestone in that relationship.
“As the UK embarks on its next steps post-Brexit, New Zealand is pleased to be among the first countries to negotiate a trade agreement with one of our oldest friends,” Parker says.
“We look forward to an FTA that opens up more opportunities for small and medium sized businesses, Māori exporters, and our regional communities, consistent with our Trade for All objectives.”
The UK is NZ’s sixth largest trading partner with two-way trade last year totalling nearly $6 billion.
Parker says the outcomes sought include:
- the removal of tariffs on trade between NZ and the UK;
- the development of new approaches to address non-tariff barriers;
- the facilitation of trade between the two countries, including through streamlined customs procedures, good regulatory practice and regulatory cooperation;
- the development of new ways of thinking to foster digital trade;
- breaking new ground on trade provisions in support of sustainable development, including climate change.