Following trade talks in London on Friday, both the UK and New Zealand are aiming to secure a “fantastic” trade deal in August which will remove tariffs and potentially increase mobility between the two nations.
UK International Trade Secretary, Liz Truss, met with her New Zealand counterpart, Damien O’Connor, for the fifth round of discussions and agreed that talks between the two countries should be accelerated.
“We have intensified negotiations and moved closer to an agreement that works for both nations,” said Truss. “Both sides are committed to striking a modern, liberalising agreement that forges closer ties between two island democracies that believe in free and fair trade. I am pushing UK interests hard in areas like services, mobility and investment, and want a deal that cuts tariffs on our exports.”
Two-way trade between New Zealand and the UK was worth about $6 billion in 2019, and the British government is now aiming to have 80% of global trade covered by bilateral agreements.
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“Negotiating teams will now accelerate talks and spend the coming weeks finalising details with the aim of reaching agreement in principle in August,” said Truss.
The announcement comes shortly after the UK and Australian governments concluded an in-principle trade agreement which will see tariffs slashed and new provisions for freer movement of citizens between the two nations, including lifting age limits and other restrictions on working visa schemes.
The new Australia-UK trade deal also provides an ideal platform upon which the upcoming New Zealand-UK trade deal can be based, allowing scope for the expansion of mobility and trade.
CANZUK International will continue to work with MPs and Ministers across the UK and New Zealand, and ensure any trade agreements are inclusive of CANZUK policies such as affording greater mobility and visa access for citizens.
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