New Zealand-UK Free Trade Agreement comes into force on May 31
(VOVWORLD) - The New Zealand-UK Free Trade Agreement coming into force on May 31 will create a bigger push for New Zealand’s economy and increase its GDP to 1 billion NZD annually.
 New Zealand Trade Minister Damien O'Conner and UK Minister of State for Indo-Pacific Anne-Marie Trevelyan at the signing of the New Zealand-UK Free Trade Agreement. (Photo: RNZ) |
In a press conference on Wednesday, New Zealand Prime Minister Chris Hipkins said the earlier than expected implementation of the FTA means that from today New Zealand businesses will immediately save around 37 million NZD, with the instant elimination of tariffs and new duty-free quotas covering 99.5% of current exports.