New Zealand and Britain launch free trade talks

New Zealand on June 17 formally launched free trade talks with Britain, which is looking to line up post-Brexit agreements with other countries.

(Illustrative image). Ports of Auckland is the biggest port of New Zealand. (Photo: Stuff.co.nz)
(Illustrative image). Ports of Auckland is the biggest port of New Zealand. (Photo: Stuff.co.nz)

New Zealand would be among the first countries to negotiate a trade agreement with Britain in a post-Brexit era, Minister for Trade and Export Growth David Parker said in a statement.

"In the post Brexit environment, it makes more sense than ever for us to be working together to grow this partnership for the future," Parker said.

The Free Trade Agreement (FTA), which has been informally discussed between both nations for a while, will open up more opportunities for small and medium sized businesses, indigenous Māori exporters, and our regional communities, he said.

Britain is New Zealand’s sixth largest trading partner, and two-way trade totalled almost NZD6 billion (US$3.87 billion) last year.

The first round of negotiations is expected to take place by video conference from mid-July, Parker added.

Reuters