Reacting to the signing of the UK-New Zealand Free Trade Agreement, William Bain, Head of Trade Policy at the BCC said:
“The BCC welcomes the signature of the UK-New Zealand free trade agreement today. This will mean zero-tariff trade for UK exporters with customers in New Zealand once the agreement enters into force early next year. It will also be easier for SMEs to access the New Zealand market as paperwork and red tape are reduced through modern provisions on digital trade. The FTA should be worth up to £800m to the UK economy and raise bilateral trade by around 60%.
“We also welcome the opportunities for business travel and being able to provide services in New Zealand on an equal footing together with a new entry route to facilitate this.
“The agreement will also boost trade in environmental goods and services – essential for the transition to Net Zero.
“We will engage with businesses in the UK and New Zealand to discuss the many plus points of this agreement, and hope to see it force as soon as possible.”