What you need to know about the UK's trade agreement with New Zealand…
The UK and New Zealand signed a free trade agreement (FTA) in February 2022. This is the second FTA the UK has negotiated from scratch since leaving the EU. The first was with Australia.
What’s in the agreement?
The agreement aims to reduce barriers to trade between the UK and New Zealand. It removes tariffs on UK-New Zealand trade. UK tariffs on some sensitive agricultural products are reduced over a transitional period. It also removes barriers to trade in services and in a number of other areas.
What are the key benefits?
Expected to increase trade by almost 60%, boosting the economy by UKP 800 million
Cutting red tape for 6000 UK businesses trading between UK / NZ
Tariff-free access for all UK exporters to NZ
Increasing investment opportunities for UK / NZ businesses
Opening new digital markets, easier e-commerce and free flow of trusted data essential for modern businesses.
Allowing UK / NZ business from accountancy and legal services to financial services and engineering to compete on an equal footing without barriers
More opportunities to be able to work and operate in NZ with work visas extended for three years including family members
Kiwi quality at lower prices for the UK market by removing tariffs
And the way forward for our accession to CPTPP