“As the UK enters its next steps after Brexit, New Zealand is pleased to be among the first countries to negotiate a trade deal with one of our oldest friends,” said David Parker, Minister for Trade and Export Growth. 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. At present, the UK is unable to conclude its own trade agreements during the 11-month transition period following its exit from the EU in January. New Zealand`s economy is a market economy heavily dependent on international trade, particularly with Australia, the United States of America, China and Japan. It is highly dependent on tourism and agricultural exports and has only small manufacturing and high-tech components. Market economic reforms in recent decades have removed many barriers to foreign investment, and the World Bank has made New Zealand the most business-friendly country in the world [1]. Regional and bilateral free trade agreements have become an important part of New Zealand`s international trade policy. New Zealand has used free trade agreements, also known as closer economic partnerships, to liberalize trade between economies. A closer economic partnership agreement with Thailand was negotiated in 2004 and implemented in 2005. Negotiations for a free trade agreement with Chile, Brunei and Singapore, known as the Trans-Pacific Strategic Economic Partnership, were concluded in 2005. Negotiations on other agreements with Malaysia began in 2006, but could not be concluded.
The historic free trade agreement with China was signed in Beijing in April 2008. [2] In an interview with Times Radio, Peters stated that the “recipe” for an agreement “could have already been practically signed.” A trade deal with New Zealand is an “essential” part of supporting the UK economy in resuming the collapse of the coronavirus, British Trade Minister Liz Truss said as Britain began formal talks with Wellington. The United Kingdom is New Zealand`s sixth largest trading partner. Two-way trade reached nearly $6 billion last year. “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 United Kingdom and New Zealand are coordinated in many areas, which will allow us to move quickly on many chapters.
