UK Concludes 5th Round of Trade Talks With New Zealand
The United Kingdom finished the fifth round of negotiations on a free trade agreement with New Zealand, reaching an agreement on disputes, transparency and gender equality in trade, the U.K.'s Department for International Trade announced in a June 18 news release. “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,” U.K. International Trade Secretary Liz Truss said. “I am pushing UK interests hard in areas like services, mobility and investment, and want a deal that cuts tariffs on our exports, makes it easier for our service providers to sell into New Zealand, and delivers for consumers here at home.” The U.K.-New Zealand trading relationship was worth 2.3 billion pounds in 2020.
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In the release, the U.K. expressed its desire for a New Zealand FTA to take it a step closer to joining the 11-member Comprehensive and Progressive Agreement for Trans-Pacific Partnership. CPTPP recently accepted the U.K.'s bid to join its ranks, beginning its accession process (see 2106020006). The U.K. agreed to an FTA with Australia, which also could move it toward joining the CPTPP.