UK Touts Benefits of Potential New Zealand Trade Deal
A United Kingdom trade deal with New Zealand could eliminate tariffs of up to 10% on various British goods and increase a trade relationship already worth over $3.1 billion, the U.K.'s Department for International Trade said Aug. 21. The trade agreement could drop tariffs on British chocolate, gin, buses and clothes, the department said. The latest round of trade talks between the two sides ended last month.
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“We are working round the clock to get this deal done in the coming weeks," International Trade Secretary Liz Truss said. "We are both big fans of each other’s high-quality products, so this could be a huge boost that allows British shoppers to enjoy lower prices and British exports to be even more competitive. New Zealand and the UK are natural partners united by modern values." She called the agreement "a win-win" for both countries. "It would also be an important step towards our accession" to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, she said, "helping the UK gain access to 11 of the world’s biggest and fastest-growing economies across the Pacific region and opening doors to dynamic markets across the world.”