UPDATED 7:14 PM PT – Wednesday, October 20, 2021
The U.K. recently struck a free trade deal with New Zealand in yet another success for Boris Johnson’s Brexit agenda.
The deal was announced on Wednesday and includes mutual cuts on tariffs, along with easing the movement of goods, services and people between the two countries. The total worth of mutual trade was estimated at $3 billion last year and is expected to increase.
“I think it’s a great deal,” said Prime Minister Johnson. “I think it means that we will be able to have the benefit of our wonderful New Zealand products even more cheaply than before. We’ve got from Sauvignon Blanc to Manuka honey and kiwi fruit and all sorts of other benefits. So, I think it’s a good deal for both of us.”
The Prime Minister and @JacindaArdern have agreed a ground-breaking trade deal between the UK and New Zealand:
🚢 ending tariffs
✂️ cutting red tape
🚀 creating jobs and growth
— UK Prime Minister (@10DowningStreet) October 20, 2021
The U.K.-New Zealand deal comes amid an ongoing trade standoff between Britain and the EU and it’s expected to give London more bargaining power in future talks with Brussels.
“This is a historic, but substantial deal and it’s been achieved basically in a year,” said New Zealand counterpart Jacinda Ardern. “That has never been done before.”