NZ consults on a new free trade agreement with the UK
New Zealand consults on a new free trade agreement with the UK
The government of New Zealand is seeking views about a free trade agreement with the UK and on Friday 23 November issued a call for written submissions.
International Trade Secretary Dr Liam Fox has welcomed the step, which will help to ensure that trade talks can begin after we leave the European Union on 29 March 2019.
New Zealand’s Trade and Export Minister David Parker noted that the UK is one of New Zealand’s ‘oldest friends’ and that ‘a trade deal makes a lot of sense’. He added that both countries have similar legal structures and it expects a high quality and comprehensive free trade agreement can be agreed.
This reinforces existing commitments by both countries’ to begin negotiations after the UK has left the EU.
New Zealand is the second country to launch a consultation about a new free trade agreement with the UK. The US Trade Representative Robert Lighthizer launched a request for comments last week.
International Trade
Secretary Liam Fox said:
“New Zealand
is one of our closest and greatest friends. With our deep
shared heritage and unwavering commitment to free and fair
trade, it is only right that New Zealand is one of the first
countries that we will strike an new trade agreement with
after we leave the European Union.
“I am delighted that New Zealand’s Trade
Minister David Parker is taking the necessary steps so we
can begin to negotiate a highly ambitious free trade
agreement that is fit for the 21st century. This will help
to create jobs in both our countries and give consumers
greater choice at lower prices, as well as pulling British
businesses closer to the rapidly-growing Asia-Pacific
region.”
New
Zealand’s Trade and Export Growth Minister David Parker
said:
“The UK is one of New
Zealand’s oldest friends, and a free trade agreement makes
a lot of sense. Our shared history, similar legal structures
and openness to trade mean a high quality, comprehensive and
progressive free trade agreement is a natural next step
after Brexit.
“Both New Zealand and
the UK have committed to launching negotiations as soon as
the UK is in a position to do so.”
The
trade of goods between the UK and New Zealand was worth
£2.72 billion last year, with British exports increasing by
10% on 2016.
A new free trade agreement is expected to further increase this trade, creating jobs and giving consumers more choice at lower prices.
The Department for International Trade has already held four public consultations on new free trade agreements with the US, Australia and New Zealand, as well as potential accession to the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP).
Our consultations closed on 26 October and were open for a total of 14 weeks, which is two weeks longer than the European Commission holds its consultations for. We are currently analysing responses and will publish our approach to new free trade agreement before negotiations begin.
Notes to Editors
•
The New Zealand Trade and Export Growth Minister David
Parker published a call for public submissions on a free
trade agreement with the UK on Friday 23 November: https://www.beehive.govt.nz/release/have-your-say-united-kingdom-new-zealand-trade-deal
•
The US Trade Representative published a request for comments
on negotiating objectives for a UK-US trade agreement on
Friday 16 November: https://www.federalregister.gov/documents/2018/11/16/2018-24987/request-for-comments-on-negotiating-objectives-for-a-us-united-kingdom-trade-agreement
•
The UK-New Zealand Trade Policy Dialogue was founded in
October 2016 and has so far met five times.These meetings
have built shared understanding of each other’s systems
and made important preparations before negotiations
begin.