NZ and UK about to start trade talks

New Zealand and the United Kingdom will start talks on a free trade agreement on Wednesday.

The trade talks have been mooted since the UK voted to leave the European Union, but talks could only begin after the UK formally left the bloc, which only happened on January 31.

Previously, New Zealand’s trading relationship with the UK was managed through the EU.

New Zealand began negotiating a free trade agreement (FTA) with the EU in 2018.

Trade Minister David Parker said New Zealand was pleased to be among the first countries to begin negotiations with the UK.

‘‘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 said.

‘‘We look forward to an FTA that opens up more opportunities for small and medium-sized businesses, Ma¯ ori exporters, and our regional communities, consistent with our Trade for All objectives. In the post-Brexit environment, it makes more sense than ever for us to be working together to grow this partnership for the future.’’

The UK is New Zealand’s sixth-largest trading partner with

‘‘New Zealand is pleased to be among the first countries to negotiate a trade agreement with one of our oldest friends.’’ David Parker, trade minister

two-way trade totalling more than $6 billion last year.

‘‘As the global economy continues to be severely impacted by the effects of Covid-19, we are more committed than ever to concluding a bilateral FTA capable of delivering significant benefits to the people of both New Zealand and the UK,’’ Parker said.

Both sides underscored their commitment to achieving an early conclusion to a highquality, comprehensive and inclusive trade agreement.

The agreement would seek to eliminate tariffs on trade and develop new approaches to nontariff barriers. These are rules that make it costly to export to another country, like differing food and quality standards.

It will also try to break new ground on free trade supporting sustainable development and climate change.