NZ International Business Forum report on UK-NZ Free Trade Agreement | Beef + Lamb New Zealand

NZ International Business Forum report on UK-NZ Free Trade Agreement

The NZ International Business Forum (NZIBF), with support from Beef + Lamb New Zealand and the Meat Industry Association, has released a discussion paper on the potential for a future free trade agreement (FTA) with the United Kingdom (UK), as the UK prepares to leave the European Union.
Wednesday, 12 December 2018

The New Zealand and UK Governments have announced their intention to commence free trade agreement negotiations after Brexit and once the UK is in a position to negotiate independent of the EU.

The UK is an important market to the New Zealand sheep and beef sector. New Zealand red meat and associated co-product exports to the United Kingdom totalled about £293 million for the year ending August 2018 with sheepmeat accounting for 86% of the sector’s total exports to the United Kingdom. The United Kingdom is also a significant market for New Zealand wool, accounting for over £21 million in trade for the year ending August 2018.

The New Zealand sheep and beef sector is supportive of the negotiation, at the earliest possible opportunity, of an ambitious, comprehensive and high-quality FTA between our two countries that builds on and strengthens the existing trade relationships.  Such an FTA has the potential to benefit both the United Kingdom and New Zealand, through reducing costs, deepening existing partnerships, enhancing value chains and modernising the current trade and economic relationship.

By tariff reductions and addressing non-tariff barriers, both sides would benefit from greater access to each other’s markets which would provide consumers with a wider array of competitively priced products and manufacturers with access to high-quality, competitively priced inputs.