Uk Free Trade Agreement New Zealand

If the UK and the EU fail to reach an agreement on their trade terms after 31 December 2020 and if it is not agreed to extend the transitional period, a “non-deal” will be possible on 1 January 2021. Peters said the UK`s EU membership was not “fit” to negotiate its own agreements around the world. Both sides stressed their commitment to a timely, high-quality, comprehensive and inclusive trade agreement. “DIT is focused on securing free trade agreements, which guarantee benefits for every region and nation in the UK, and talks are ongoing.” Until the end of the transition period (currently 31 December 2020), the UK will remain in the EU, including the European internal market and customs union, and NZ trade will not change. Wine could be a simpler offer, and as a third of NZ wine is sold in the UK, free access is an attractive prospect for NZ winemakers. Stay in touch to give your opinion on the NZ-UK free trade agreement. Todd McClay, National Trade Spokesman, stressed that the unrestricted access of our agricultural products to the UK, particularly lamb and butter, was essential to a successful free trade agreement between New Zealand and Britain. However, it is unlikely that British farmers will want free competition with meat (or Australian meat) and dairy products. New Zealand is negotiating a free trade agreement with the United Kingdom, one of the world`s largest economies and a long-standing partner of New Zealand. However, in addition to discussions on a trade agreement with the EU, it has begun trade negotiations with a number of countries outside the bloc. The United Kingdom is in parallel discussions with other competing export markets, including Australia. If these countries enter into agreements different from those with NZ (including different tariff reductions or other non-tariff barriers), this could have an impact on NZ exporters. Australia would be highly motivated to reach a free trade agreement with the UK following a recent chinese intervention against Australian exporters and focusing on the prioritization of its agricultural sector.

Leaving the EU allows the UK to develop its own new trade agreements with other countries, including New Zealand. The customs agreement between the EU and New Zealand is not affected by Brexit. “New Zealand and the United Kingdom enjoy a close relationship, including strong trade and economic relations, shared values and traditions, and a common history. A free trade agreement will be another important step in this report. The UK began trade negotiations with New Zealand in July, but will not be able to sign a contract until next year. Speaking to Times Radio, Peters said the “recipe” for an agreement “could have been practically signed.” While a member of the EU, the UK was automatically part of some 40 EU trade agreements with more than 70 countries.