New Zealand and the UK secure free trade deal

New Zealand and the UK secure free trade deal

Prime Ministers Jacinda Ardern and Boris Johnson sealed the deal in a Zoom call on Wednesday after 16 months of negotiations. The deal sparked furious Nexit calls in the Netherlands with eurosceptics blasting the EU for its inability to strike deals with either Australia or New Zealand. Nexit Denktank campaigners said: Europhiles keep saying that with the EU we are stronger and in a better position. The truth is that the EU has not yet signed any free trade agreements with Australia and New Zealand. The UK alone does. Due to EU rules, we are not allowed to conclude trade agreements ourselves.

What the Netherlands needs are good trade agreements, not an unelected EU lecturing us. We are the fourth largest exporter in the world. Countries all over the world want to sign free trade agreements with us. The British are proving that we don't need the EU. Announcing the deal, Boris Johnson said: This is a great trade deal for the United Kingdom, cementing our long friendship with New Zealand and strengthening our ties with Indo-Pacific. READ MORE: Macron's EU dreams crushed as Brussels chiefs turn their backs on him.

The deal comes only months after a similar British agreement with Australia as ministers in London look to flesh out a post-Brexit pivot away from relying on commerce with the European Union. This deal serves New Zealand's economy and exporters well as we reconnect, rebuild and recover from COVID - 19 and look forward into the future, Ms Ardern said at a news conference in Wellington, adding the deal was the country's best ever. Tariffs on 97 percent of the products will be eliminated for both countries the day the deal comes into force, Ms Ardern said. The immediate economic impact of any deal on Britain's 3 trillion dollar economy is expected to be negligible according to British analyses published in 2019 and 2020. An updated economic analysis will be published when the deal is signed, for which a date has not been set. Brexit LIVE: UK firm sees EU business surge 'five-fold' LIVE BLOG Britain secures 'world leading' 2.3 bn trade deal with New Zealand INSIGHT French fishermen turn on Macron as Brexit battle with UK backfires ANALYSIS New Zealand said the deal would provide a boost of almost NZ $1 billion to its GDP. It's the second deal of the South Pacific nation this year after sealing an upgraded trade pact with its biggest trading partner China in January. The agreement signals a return of close trade ties between the nations that were curtailed when Britain joined the then European Economic Community in the 1970 s. It also aligns with Britain foreign policy push for more influence in Indo-Pacific to try to moderate China's global dominance. The deal took longer than expected to reach, coming nearly two months after a target date. Britain's opposition Labour Party criticised it, saying it harmed farmers and failed to deliver on jobs, exports or economic growth.