New Zealand secures free trade deal with Britain

NEW ealand has secured a free trade deal with ritain, Prime Minister Jacinda Ardern announced on Thursday.

The new agreement would accelerate New ealand’s Covid-19 economic recovery, Ardern said.

“This deal serves New ealand’s economy and exporters well as we reconnect, rebuild and recover from COVID-19, and look forward into the future,” she said.

“It’s one of our best deals ever and secured at a crucial time in our COVID recovery.” ritish Prime Minister

oris Johnson said the deal was “the cherry on the top of a long and lasting partnership” between the two countries.

“It is good for both our economies, boosting jobs and growth as we build back better from the pandemic. We already share deep ties of history, culture and values, and I look forward to the next chapter in our friendship.”

The agreement, which has been agreed in principle and whose text will be finalized in the coming months, would give New ealand “unprecedented access” to the ritish market, Ardern said.ritain

would eliminate all tariffs on New ealand exports, saving exporters about 37.8 million New ealand dollars (27.2 million US dollars) per year alone.

ritain was New ealand’s seventh largest trading partner pre-Covid, with two-way trade worth nearly 6 billion dollars to March 2020.

t is good for both our economies, boosting jobs and growth as we build back better from the pandemic. We already share deep ties of history, culture and values, and I look forward to the next chapter in our friendship British PM Boris Johnson

New ealand Trade Minister Damien O’Connor said the agreement would also be the first to include specific provisions on climate change.

“The United Kingdom has agreed to take concrete steps to eliminate subsidies on fossil fuels. New prohibitions have been agreed to combat over-fishing.” New

ealand, after Australia, is the second country to secure a new free trade agreement with ritain post rexit.