New Zealand–United Kingdom Free Trade Agreement

{{Short description|Proposed free trade agreement between New Zealand and the United Kingdom}}

{{Infobox treaty

| name = New Zealand–United Kingdom Free Trade Agreement

| long_name =

| image = United Kingdom New Zealand Locator.png

| image_size = 390px

| alt =

| caption = {{Legend|#FF7F00|New Zealand}}{{Legend|#228B22|United Kingdom}}

| type = Free Trade Agreement and Economic Integration Agreement

| context = Trade agreement between New Zealand and the United Kingdom

| date_drafted = 20 October 2021

| date_signed = 28 February 2022

| location_signed =

| date_sealed =

| date_effective = 31 May 2023

| condition_effective = Ratification by both Houses of the Parliament of New Zealand and the UK

| amendment =

| date_expiration =

| date_expiry =

| provisional_application =

| mediators =

| negotiators =

{{flagicon image|Flag of New Zealand.svg}} Damien O'Connor
{{flagicon image|Flag of the United Kingdom.svg}} Liz Truss
until 15 September 2021
{{flagicon image|Flag of the United Kingdom.svg}} Anne-Marie Trevelyan
from 15 September 2021

| original_signatories =

| signatories =

| parties =

{{flagicon image|Flag of New Zealand.svg}} New Zealand
{{flagicon image|Flag of the United Kingdom.svg}} United Kingdom

| ratifiers =

| depositor =

| depositories =

| citations =

| language =English

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}}

The New Zealand–United Kingdom free trade agreement (NZUKFTA) was signed on 28 February 2022.{{cite web|date=28 February 2022|title=UK and New Zealand sign comprehensive trade deal|url=https://www.gov.uk/government/news/uk-and-new-zealand-sign-comprehensive-trade-deal|website=GOV.UK|access-date=14 December 2023}} The broad terms of the agreement were concluded on 20 October 2021.{{Cite news|date=20 October 2021|title=UK agrees free trade deal with New Zealand|work=BBC News|url=https://www.bbc.co.uk/news/business-58988711|access-date=14 December 2023}} It was the second trade agreement signed by Britain since leaving the European Union that was negotiated completely anew.

Negotiations

Round	Dates	Location	Ref.
class="wikitable sortable" \|+ NZUKFTA Round of Negotiations
1	13–24 July 2020	Virtual meeting	{{cite web\|title=Timeline and history of the negotiations\|url=https://www.mfat.govt.nz/en/trade/free-trade-agreements/free-trade-agreements-in-force/new-zealand-united-kingdom-free-trade-agreement/nz-uk-negotiating-rounds/\|website=Ministry of Foreign Affairs and Trade\|access-date=4 May 2024\|archive-url=https://web.archive.org/web/20240429192328/https://www.mfat.govt.nz/en/trade/free-trade-agreements/free-trade-agreements-in-force/new-zealand-united-kingdom-free-trade-agreement/nz-uk-negotiating-rounds/#bookmark2\|archive-date=29 April 2024\|url-status=live}}
2	19 October–2 November 2020	Virtual meeting
3	26 January–9 February 2021	Virtual meeting
4	12–27 April 2021	Virtual meeting
5	8–16 June 2021	Virtual meeting
6	19–30 July 2021	Virtual meeting

On 21 October 2021, New Zealand and United Kingdom signed a free trade agreement eliminating tariffs on 97% of New Zealand exports to the UK including honey, wine, kiwifruit, onions, and most industrial products. In addition, a range of dairy and beef exports will be tariff free after a period of 15 years.{{cite news |last1=Manch |first1=Thomas |title=UK-NZ free trade agreement reached, promising zero-tariffs and $970m economic boost |url=https://www.stuff.co.nz/national/politics/126744981/uknz-free-trade-agreement-reached-promising-zerotariffs-and-970m-economic-boost |access-date=21 October 2021 |work=Stuff |date=21 October 2021 |archive-url=https://web.archive.org/web/20211021001318/https://www.stuff.co.nz/national/politics/126744981/uknz-free-trade-agreement-reached-promising-zerotariffs-and-970m-economic-boost |archive-date=21 October 2021|url-status=live}}{{cite web |title=Covid-19 update: 102 community cases in NZ today |url=https://www.rnz.co.nz/news/national/453978/covid-19-update-102-community-cases-in-nz-today |publisher=Radio New Zealand |access-date=21 October 2021 |archive-url=https://web.archive.org/web/20211021011822/https://www.rnz.co.nz/news/political/453967/uk-free-trade-deal-to-eliminate-tariffs-for-all-new-zealand-exports |archive-date=21 October 2021 |date=21 October 2021 |url-status=live}} On 1 March 2022, the two countries ratified the terms of the free trade agreement signed in October. This agreement removes tariffs on 99.5% of New Zealand exports including meat, butter and cheese. New Zealand Prime Minister Jacinda Ardern described the free trade agreement as a "gold-standard free trade agreement" that would help accelerate the country's economic recovery.{{cite news |title=New Zealand signs free trade deal with UK to eliminate all tariffs for NZ exports |url=https://www.rnz.co.nz/news/political/462488/new-zealand-signs-free-trade-deal-with-uk-to-eliminate-all-tariffs-for-nz-exports |access-date=3 March 2022 |work=Radio New Zealand |date=1 March 2022 |archive-url=https://web.archive.org/web/20220301032043/https://www.rnz.co.nz/news/political/462488/new-zealand-signs-free-trade-deal-with-uk-to-eliminate-all-tariffs-for-nz-exports |archive-date=1 March 2022|url-status=live}} This free trade agreement came into force on 31 May 2023.{{Cite web|date=20 October 2021|title=UK-New Zealand Free Trade Agreement|url=https://www.gov.uk/government/collections/uk-new-zealand-free-trade-agreement |website=Gov.UK}}{{Cite web|date=5 May 2023|title=Landmark post-Brexit trade deals to come into force this month driving economic growth across the UK|url=https://www.gov.uk/government/news/landmark-post-brexit-trade-deals-to-come-into-force-this-month-driving-economic-growth-across-the-uk|website=GOV.UK}}

Impact

After 12 months of the FTA entering into effect, Trade Minister Todd McClay announced that the United Kingdom became New Zealand's fastest growing export market.{{cite web|date=31 May 2024|title=Govt Urges Businesses to Use Reduced Tariff Rates Under UK Free Trade|url=https://www.devdiscourse.com/article/business/2956191-chinas-factory-slump-highlights-economic-struggles|location=Wellington|website=Devdiscourse|access-date=31 May 2024|archive-url=https://web.archive.org/web/20240531162656/https://www.devdiscourse.com/article/business/2956191-chinas-factory-slump-highlights-economic-struggles|archive-date=31 May 2024|url-status=live}}

The NZ-UK trade agreement has been compared in detail with the agreement between NZ and the EU; the difference in outcomes was found to be unfavourable to the UK, and described as stark.{{cite web | title=New Zealand trade agreement: letter to the UK Government | publisher=Scottish Government| date=21 August 2022 | url=https://www.gov.scot/publications/new-zealand-trade-agreement-letter-to-the-uk-government/}}{{cite web | title=How does the UK – New Zealand trade deal compare to the EU – New Zealand trade deal? |publisher=National Farmers' Union| date=27 July 2023 | url=https://www.nfuonline.com/updates-and-information/uk-new-zealand-trade-deal-how-does-this-compare-to-the-eu-deal/}}