Britain will Begin Trading Freely with Australia and New Zealand.
The leaders of the three countries announced on May 5 that Britain's free trade deals with New Zealand and Australia will take effect by the end of this month.
The statement was made while the leaders of the two countries in the Southern Hemisphere were in London to attend King Charles III's coronation.
The agreements are a cornerstone of Britain's efforts to deepen its commercial connections with other countries after it left the EU. Both agreements were initially reached in 2021.
According to New Zealand officials, the agreement will increase the country's economy by up to 1 billion New Zealand dollars ($629 million) and assist raise sales of goods including wine, butter, meat, and honey.
It was a "gold-standard agreement," according to Chris Hipkins, the prime minister of New Zealand.
The agreement with New Zealand, according to British Prime Minister Rishi Sunak, demonstrated the close ties between the two countries.
This agreement will provide new opportunities for businesses and investors in New Zealand and the UK, foster growth, increase employment, and—most importantly—create a more prosperous future for future generations, according to a statement from Mr. Sunak.
According to Australian Prime Minister Anthony Albanese, this would imply that its exporters would have better market access.
Therefore, it will mean much greater access to the British market for beef, sheep products, seafood, and our other products,
According to Mr. Albanese, after the working holiday agreement's terms were broadened, it would also imply that younger Australians would have more access to jobs in Britain and vice versa.
A similar programme between New Zealand and Britain has also been increased, extending the eligibility age from 30 to 35 and extending the duration of working permits from two to three years.
0 Comments