01 March 2022
UK and New Zealand reach agreement on exports
NEW Zealand has formally agreed to eliminate all tariffs on UK products entering the country and the UK has agreed to eliminate 96.7% of tariffs for NZ products entering the UK.
The Free Trade Agreement (FTA) came into force following a meeting of the UK’s International Trade Secretary, Anne-Marie Trevelyan (pictured, and New Zealand Minister for Trade and Export Growth, Damien O’Connor, on Monday (February 28th).
Next steps will require scrutiny of the agreement by the Trade and Agriculture Commission for a three-month period, then scrutiny by government and select committees. This is likely to take until the middle of 2023 to allow time for the necessary legislation to be in place.