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New Zealand, Britain launch free trade talks

Xinhua News,WELLINGTON
2020-06-17 16:13

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WELLINGTON, June 17 (Xinhua) -- New Zealand and Britain formally launched free trade negotiations on Wednesday.

"As the UK (the United Kingdom) embarks on its next steps post-Brexit, New Zealand is pleased to be among the first countries to negotiate a trade agreement with one of our oldest friends," Minister for Trade and Export Growth David Parker said in a statement.

"We look forward to an FTA (Free Trade Agreement) that opens up more opportunities for small and medium-sized businesses, Maori exporters and our regional communities consistent with our Trade for All objectives," he said.

A free trade agreement with Britain will be an important new milestone in the close relationship, Parker said.

"In the post-Brexit environment, it makes more sense than ever for us to be working together to grow this partnership for the future," he said.

"As the global economy continues to be severely impacted by the effects of COVID-19, we are more committed than ever to concluding a bilateral FTA capable of delivering significant benefits to the people of both New Zealand and the UK," the minister said.

Britain is New Zealand's sixth largest trading partner. Two-way trade totaled almost 6 billion NZ dollars (3.9 billion U.S. dollars) last year.
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