Tariff Free trade between our great nations.
In short, the following bullets are the highlights
> The UK and New Zealand have been in talks for a while now, with the aim of increasing trade relations.
> This would be done by removing tariffs on goods traded between the two countries
> If this agreement goes through, there will be cheaper prices for consumers as well as more jobs created in both countries
> There are still some details that need to be ironed out before it can become official but negotiations are ongoing
> It is expected to take effect sometime next year if all goes according to plan>This deal could also lead to other agreements being made between these two nations and others around the world; it’s an exciting prospect!
Did you know that trade between our nations was worth £2.3 billion last year?
Quoting from the UK Gov website:
– Cars are the UK’s biggest export to New Zealand, with £133 million-worth sold last year. Buses, motorhomes and caravans are in line to also see tariffs up to 10% removed entirely.
– Chocolate, gin, buses and clothes are among British products that could see tariffs of up to 10% removed, encouraging New Zealand to buy British.
– High quality New Zealand products such as wine, food and drink could be tariff-free in UK shops.
– Total trade in goods and services between the UK and New Zealand was worth £2.3 billion last year and is set to increase with a trade deal
Reuters quoted Trade minister Liz Truss said that “great progress” had been made in a sixth round of discussions which ran from July 19-30.
UK Secretary of State for International Trade Liz Truss said:
“We are working round the clock to get this deal done in the coming weeks. 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. An agreement would reflect those ideals and is a win-win for both countries.
“It would also be an important step towards our accession to CPTPP, 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.”
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Let us know the part numbers you require. If you do not have the part number, we will find this for you.
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