The UK and New Zealand have announced a free trade agreement as Britain continues to strike economic relationships after its departure from the European Union.
The deal will cut red tape for businesses, end tariffs on UK exports, and create new opportunities for tech and services companies, according to a Downing Street statement.Prime ministers Boris Johnson and Jacinda Ardern sealed the deal in a joint Zoom call, following 16 months of negotiations."This is a great trade deal for the United Kingdom, cementing our long friendship with New Zealand and furthering our ties with the Indo-Pacific," Johnson said.
Read More"This deal serves New Zealand's economy and exporters well as we reconnect, rebuild and recover from Covid-19, and look forward into the future," Ardern said at a news conference in Wellington.All tariffs on all products will be eliminated between both countries. UK-New Zealand trade was worth £2.3 billion last year and is set to grow under the new arrangement.
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