- Analytics
- News and Tools
- Market News
- PM Ardern: New Zealand secures “historic” free trade deal with Britain
PM Ardern: New Zealand secures “historic” free trade deal with Britain
New Zealand’s Prime Minister Jacinda Ardern announced on Thursday, the South Island Pacific nation has clinched a historic Free Trade Agreement (FTA) with the United Kingdom.
Key details (via Xinhua News Agency)
“The FTA will see a boost of almost 1 billion NZ dollars (720 million US dollars) to New Zealand GDP and unprecedented access for Kiwi exporters to the British market.”
“The FTA will also see an elimination of all tariffs by Britain on New Zealand exports, with over 97 percent being removed the day the FTA comes into force.”
“The deal will also see significant increases for beef and sheepmeat market access.”
Separately, New Zealand Trade Minister Damien O'Connor said, “pre-COVID estimates also projected that New Zealand goods to Britain will increase up to 40 percent and that New Zealand GDP will benefit up to 970 million NZ dollars (699 million US dollars) due to the FTA.”
Market reaction
NZD/USD is holding higher ground amid a better appetite for riskier assets and the NZ-UK trade deal.
The spot is currently trading at 0.7213, adding 0.18% on the day.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
