UK-NZ Free Trade Agreement comes into force

The New Zealand seafood industry is celebrating the coming into force of the UK-NZ FTA after a meeting in London today with Prime Minister Chris Hipkins with UK Prime Minister Rishi Sunak.

Exporters have three weeks to prepare as the FTA will come into force at the end of this month.

The agreement, signed on 28 February 2022, has significant benefits for the seafood industry.

Some 45 percent of New Zealand’s fish and seafood trade with the UK will enter the UK duty free from the end of this month.

Of the remaining 55 percent of products, most (99.5 percent) will enter duty free within three years, and 100 percent within seven years.

Seafood New Zealand chief executive Jeremy Helson says this is particularly good for our hoki, which has tariffs eliminated from entry into force.

“That is a $2.2 million export market. Within three years, mussels, which are worth $6.4 million in exports, will be tariff free as well.

“New Zealand relies on free trade agreements to compete with goods from other global exporters and welcomes all diplomatic efforts to level the playing field.

“Our thanks to the Ministry of Foreign Affairs officials who have been working towards this day since 2017, and to Trade and Export Growth Minister Damien O’Connor.”

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