Britain launches talks with New Zealand over post-Brexit trade deal
NEW ZEALAND has been assured its trade deal with Britain will not be affected by the UK’s exit from the European Union.
Trade minister Liam Fox hopes to secure a new trade deal with New Zealand
Britain voted to leave the bloc on June 23 and is now looking to form new trade relationships for the post-Brexit era - but cannot formally do so until it has officially left the union.
Now the UK and New Zealand have put forward their plans to set up regular trade talks at a meeting yesterday, with the hope of establishing a new partnership in the wake of its independence.
The Trade Policy Dialogue would cover market access and trade policy issues of mutual interest, including World Trade Organisation processes and current and prospective negotiations.
With the first meeting scheduled to be held early next year, regular talks would then be held every six months - and an official deal agreed once the EU is officially out the EU.
New Zealand and the UK will started trade talks early next year
In a meeting with New Zealand's minister of trade Todd McClay, UK trade minister Liam Fox said: "In leaving the EU, we have the opportunity to drive even greater openness and put Britain at the forefront of global trade.
"This new trade policy dialogue reflects a strong political commitment from New Zealand and the UK to take the lead in pushing for greater global trade liberalisation and reform and I look forward to working closely with them."
New Zealand, along with several other former Common wealth countries such as Canada, have been muted as potential trade partners for the UK following Brexit.
Theresa May will trigger Article 50 negotiations by end of March
In leaving the EU, we have the opportunity to drive even greater openness and put Britain at the forefront of global trade.
Mr McClay confirmed New Zealand was keen to establish a new relationship with Britain, and has “signalled his interest in a free trade agreement when they are n a position to negotiate independently of the European Union”.
He added: "For New Zealand, this is about being ready to cement our formal trading relationship with our fifth largest trading partner, once the UK is in a position to negotiate independently of the European Union.
Britain voted to leave the bloc on June 23 and is now looking to form new trade relationships
"I discussed with Secretary Fox the importance of remaining closely engaged, particularly as New Zealand advances our priority of a free trade agreement (FTA) with the European Union.
"I thanked Secretary Fox for assurances that New Zealand's trade interests will not be compromised by Brexit."
Theresa May has confirmed she will trigger Article 50 negotiations by the end of March next year - and talks with the EU must be completed within two years.