UK, New Zealand approve trade deal; hope it opens more doors
LONDON (AP) — Britain and New Zealand have agreed on a trade deal that eliminates tariffs on a wide range of goods as the U.K. expands economic links around the world following its exit from the European Union.
The deal was cemented late Wednesday in a conference call between U.K. Prime Minister Boris Johnson and his New Zealand counterpart, Jacinda Ardern, after 16 months of talks by negotiators. Although trade with New Zealand accounts for only 0.2% of the U.K.'s trade, Britain hopes it will help open the door toward membership in the trans-Pacific trade partnership.
The partnership, which includes Japan, Canada, and Vietnam, had GDP of 8.4 trillion pounds ($11.6 trillion) in 2020.
“This is a great trade deal for the United Kingdom, cementing our long friendship with New Zealand and furthering our ties with the Indo-Pacific,’’ Johnson said. “It will benefit businesses and consumers across the country, cutting costs for exporters and opening up access for our workers.''
Read more: https://wacotrib.com/news/world/uk-new-zealand-approve-trade-deal-hope-it-opens-more-doors/article_8094c9f2-b8e9-53c1-81d8-1859a1ff0dd7.html
(Waco Tribune-Herald)