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New Zealand-Britain Free Trade Agreement Bolsters Trade and Tourism

by Geraldine S.
04/19/2024
in Global Trade, Trade Agreements

New Zealand’s trade relations with Britain have seen a notable increase following the implementation of a free-trade agreement a year ago, according to British High Commissioner to New Zealand, Iona Thomas. During her visit to Nelson this week, part of her ongoing regional tours, Thomas emphasized the success of the agreement which has fostered bilateral trade. The agreement, which was among the first signed by Britain post-Brexit, has eliminated over 99% of trade tariffs, benefiting businesses with reduced costs and paperwork, and facilitating the employment of British workers in New Zealand. The positive impacts were highlighted during her meetings with local figures including Nelson Mayor Nick Smith, youth council representatives, and leaders from the Moananui blue economy cluster.

Thomas also explored local culture, visiting the World of WearableArt, as part of her efforts to understand diverse regional perspectives. She noted the uniqueness of the trade deal’s negotiation process, which took place remotely during the COVID-19 pandemic, underscoring the strong ties between the two nations. Additionally, Thomas discussed enhancements to the working holiday scheme, which now allows individuals up to 35 years old to obtain visas for up to three years, expanding opportunities for career and travel exchanges between New Zealand and the UK. This bilateral agreement not only promotes trade but also cultural exchange, enriching both nations’ economies and international relations. Thomas is now focused on encouraging more businesses to leverage the benefits of the free-trade agreement to foster further economic and cultural engagement.

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