New Zealand–United Kingdom Free Trade Agreement

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. 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. This free trade agreement came into force on 31 May 2023. ==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. 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. == See also ==