Entry into force of FTA ushers in new era for NZ UK trade

Media release, 5 May 2023

The NZ International Business Forum (NZIBF) welcomes the announcement that the NZ UK Free Trade Agreement will enter into force on 31 May 2023.

“When so many around the world are turning their back on trade liberalisation, New Zealand and the United Kingdom are now on a runway to a new relationship” says NZIBF Executive Director Stephen Jacobi.

“The NZ UK FTA is noticeable for the commercially meaningful market access and improved trade rules it provides for both sides on entry into force, which will incentivise new trade and investment.  That is good for consumers, for businesses and for the economy as a whole.  The next step will be UK membership of Comprehensive and Progressive Agreement on Trans Pacific Partnership (CPTPP): this will add further economic and commercial heft to that ground-breaking plurilateral agreement, which others are also interested to join”.

Mr Jacobi congratulated both Governments and their officials for their leadership and work to get to this point.

“The FTA will lead to a new era in trade relations between New Zealand and the UK.  Hopefully others will see what is possible when the focus is placed on creating better trade rules and a more level playing field in which their businesses can operate”, concluded Mr Jacobi.