{"id":119093,"date":"2021-07-31T02:47:24","date_gmt":"2021-07-31T02:47:24","guid":{"rendered":"https:\/\/fin2me.com\/?p=119093"},"modified":"2021-07-31T02:47:24","modified_gmt":"2021-07-31T02:47:24","slug":"uk-closing-in-on-striking-free-trade-agreement-with-new-zealand-liz-truss-says","status":"publish","type":"post","link":"https:\/\/fin2me.com\/politics\/uk-closing-in-on-striking-free-trade-agreement-with-new-zealand-liz-truss-says\/","title":{"rendered":"UK ‘closing in on’ striking free trade agreement with New Zealand, Liz Truss says"},"content":{"rendered":"
The UK is “closing in on” striking an agreement in principle with New Zealand, the international trade secretary has said.<\/p>\n
Liz Truss<\/strong> said “great progress” had been made in the sixth round of discussions between the two sides, which took place from 19 to 30 July.<\/p>\n “We’re closing in on an agreement in principle, with six more chapters now complete,” she said.<\/p>\n “The UK and New Zealand share core values, a long history and a commitment to free trade.<\/p>\n “I want a modern agreement that pushes new frontiers in areas like green and digital trade.”<\/p>\n <\/p>\n The Department for International Trade (DfIT) said an agreement could remove tariffs on goods, reducing costs for consumers and facilitating access for UK services and investment.<\/p>\n Ms Truss added that a deal with New Zealand would represent an “important step” towards the UK becoming a part of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, a £9trn free trade area of 11 Asia-Pacific nations.<\/p>\n “Membership would open up new opportunities for our Great British businesses, farmers and services, giving them access to some of the largest and fastest-growing markets in the world.”<\/p>\n The prospect of a trade deal with New Zealand comes after an agreement was struck between the UK and Australia last month<\/strong>.<\/p>\n It was the first trade pact negotiated from scratch after Brexit.<\/p>\n <\/p>\n Boris Johnson hailed the deal as a “new dawn” in the UK’s relationship with Australia that would make a range of goods cheaper to sell, but farming groups had raised concerns about being undercut and warned that it could imperil livelihoods<\/strong>.<\/p>\n The DfIT said environmental protections and food standards will not be compromised in pursuit of free trade agreements.<\/p>\n