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UK seeks trade deal with New Zealand as it prepares for post-Brexit


snoop1130

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UK seeks trade deal with New Zealand as it prepares for post-Brexit

 

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FILE PHOTO: Newly appointed International Trade Secretary Liz Truss arrives at Downing Street, in London, Britain July 24, 2019. REUTERS/Henry Nicholls/File Photo

 

WELLINGTON (Reuters) - Britain’s Trade Minister Liz Truss said on Monday that striking a trade deal with New Zealand, one of its smallest trading partners, would be a priority, as her government desperately looks to line up post-Brexit agreements.

 

Political turmoil in Britain has generated uncertainty over its withdrawal from the European Union. With it future trade ties in doubt, British officials have been working to minimize the impact of Brexit on non-EU trading partners.

 

Truss, appointed earlier this year by Prime Minister Boris Johnson, arrived in New Zealand on Monday, as part of a three-nation tour, which includes Australia and Japan, aimed at preparing for trade negotiations after Brexit.

 

“We’re going to be leaving the European Union on October 31 with or without a deal and as part of that agenda, striking trade deals much more broadly than we have been doing is going to be vitally important,” Truss said in Wellington ahead of the talks with her New Zealand counterpart David Parker.

 

“Striking a free trade deal with New Zealand is a very important priority for the UK,” she said. “It’s one of the first trade deals we expect to strike.”

 

Two-way trade between New Zealand and Britain is at about NZ$6 billion (£3.1 billion), data from New Zealand showed.

 

Official data shows New Zealand was Britain’s 43rd largest trading partner in 2017.

 

Truss said the UK is almost ready to start negotiations with New Zealand and her visit was to work out what the timetable will look like and what the key areas would be discussed.

 

New Zealand’s Trade and Export Growth Minister David Parker said he wants to find solutions that do not disadvantage New Zealand traders as a result of Brexit.

 

Parker said in a statement ways to cooperate in wider trade forums, including Britain’s potential accession to the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), were also discussed.

 

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-- © Copyright Reuters 2019-09-16
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How much can they buy the Luxembourg PM for as no show Boris disappeared only to reappear as the incredible bubbling buffoon in private because he couldn't handle some expat Brexit protesters.  hold them trade talks we ain't going nowhere soon????

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5 minutes ago, Slip said:

Great news. NZ lamb coming to a spoonies near you soon.  Not that we mere proles will be able to afford lamb (or probably even spoonies) by then.

We have Welsh and English Lamb. The best in the world. We export it to France and import theirs which is very good. In the UK new Zealand mutton goes to the Halal muslim market.

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How the wheel turns. Back in the 60s when Britain's joining the then EEC was being discussed, Jack Marshall the Kiwi DepPM spent half his career shuttling between Brussels & London pleading with someone anyone to allow NZ to continue exporting to Britain. But noone was listening, least of all the Brits ...

 

Still, the Kiwis will be falling over themselves now to please Mother.

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9 hours ago, mfd101 said:

How the wheel turns. Back in the 60s when Britain's joining the then EEC was being discussed, Jack Marshall the Kiwi DepPM spent half his career shuttling between Brussels & London pleading with someone anyone to allow NZ to continue exporting to Britain. But noone was listening, least of all the Brits ...

 

Still, the Kiwis will be falling over themselves now to please Mother.

No, they'll be falling over themselves not to be so dependent on China to buy NZ produce.

Not everyone has forgotten how Britain stabbed NZ in the back.

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14 hours ago, snoop1130 said:

solutions that do not disadvantage New Zealand traders as a result of Brexit.

Historical exports to New Zealand don't offer much advantage to the UK as an individual trade partner, especially if there is a Brexit with No Deal with the EU ("No Deal").

New Zealand's top 5 imports from the UK (2016) that may be affected by a No Deal were:

  • vehicles.
  • machinery and mechanical parts
  • electrical machinery and goods
  • print products, such as books
  • pharmaceutical products

Much of the future negotiations between the three countries post-Brexit will take up a range of issues associated with food imports into the UK, as well as investment and the trade in services – and much of the extent of future prospects for growth in trade might depend on the success of these negotiations.

  • Exporting from the UK to countries like Australia and New Zealand can in no way replace European trade, because of the sheer scale of the latter, but success will be an indicator of the UK’s ability to trade and engage with the world outside of Europe more generally.

https://blogs.lse.ac.uk/brexit/2019/03/01/what-are-the-prospects-for-uk-trade-with-australia-and-new-zealand/

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I am ex UK lived in NZ for 30+yrs. NZ will do a deal with UK no problem. UK will buy our lamb, beef, cheese, roan pressed Posum, honey, wine & shell fish. And Australia, Canada, India, West Indies for Sugar etc. We do not need Europe, they need us.

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5 minutes ago, shaurene said:

I am ex UK lived in NZ for 30+yrs. NZ will do a deal with UK no problem. UK will buy our lamb, beef, cheese, roan pressed Posum, honey, wine & shell fish. And Australia, Canada, India, West Indies for Sugar etc. We do not need Europe, they need us.

NZ sells all these things to the UK now while the UK is a member of the EU.

Raw products with little added value that pose a threat to the UK’s own domestic farming industry.

 

Meanwhile the UK’s value added industries with high levels of integration between the UK and EU await an answer to how they will maintain the tariff free access they need to the EU.

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10 minutes ago, shaurene said:

I am ex UK lived in NZ for 30+yrs. NZ will do a deal with UK no problem. UK will buy our lamb, beef, cheese, roan pressed Posum, honey, wine & shell fish. And Australia, Canada, India, West Indies for Sugar etc. We do not need Europe, they need us.

Yeah, right.......... but what will you buy from the UK?

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As an antipodean, this is a great thing. Australia and NZ still remember being stabbed in the back by the UK, and will be wanting pay back.  

 

The UK will be desperate to get any *headline* trade deal. NZ and Australia know this and will go for maximum access for very few concessions in return. 

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4 minutes ago, samran said:

As an antipodean, this is a great thing. Australia and NZ still remember being stabbed in the back by the UK, and will be wanting pay back.  

 

The UK will be desperate to get any *headline* trade deal. NZ and Australia know this and will go for maximum access for very few concessions in return. 

British, and in particular Welsh, farmers thrown under the bus.

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55 minutes ago, shaurene said:

I am ex UK lived in NZ for 30+yrs. NZ will do a deal with UK no problem. UK will buy our lamb, beef, cheese, roan pressed Posum, honey, wine & shell fish. And Australia, Canada, India, West Indies for Sugar etc. We do not need Europe, they need us.

Possum, sugar from Canada?

Whatever you're smoking can I buy a kilo of it?

This topic has nothing to do with Canada or Australia which are two of the worlds highest GDP economies.

NZ GDP is somewhere down with Cambodia or Vietnam.

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3 minutes ago, mstevens said:

The UK want to get this FTA done with New Zealand as it is a small country with which the UK is super friendly and it will effectively be a practice run for the bigger FTAs that follow with much bigger countries / trading partners.

They’ll need it. Australia and NZ have given a standing offer to the UK to second their trade negotiators to the UK to ‘help’ them out. 

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12 hours ago, sunnyboy2018 said:

We have Welsh and English Lamb. The best in the world. We export it to France and import theirs which is very good. In the UK new Zealand mutton goes to the Halal muslim market.

Nonsense. New Zealand used to be a much biggerr exporter of lamb to the UK. Membership in the EU put a severe restraint upon that trade.

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Cease trading with our neighbours and trade with the other side of the world instead, yet the Conservatives say:

Quote

The Conservative Party is committed to reducing the environmental impact of transport in the UK. We recognise that this requires measures to reduce transport’s impact on the local environment—in the form of noise and air pollution – as well as policies that reduce carbon emissions to address climate change, a task which David Cameron has acknowledged is one of the defining challenges of our generation. In order to achieve these vitally important goals, a Conservative Government, if elected, would implement the following key policies:...

https://www.conservatives.com/policy/where_we_stand/~/media/Files/Downloadable Files/transport-green-prospectus.ashx?dl=true

Hypocrites...

 

Seems the Tories have no problem breaking election promises if they want. 

 

 

 

 

 

 

 

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2 minutes ago, Basil B said:

Cease trading with our neighbours and trade with the other side of the world instead, yet the Conservatives say:

Hypocrites...

 

 

 

 

 

 

 

Seamless logistics with your closest neighbours and superior bargaining power that comes as part of that never was a factor.

 

Its all about blue passports and bendy bananas. 

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2 hours ago, thaibeachlovers said:

No, they'll be falling over themselves not to be so dependent on China to buy NZ produce.

Not everyone has forgotten how Britain stabbed NZ in the back.

 

Indeed. I read that NZ had already indicated to the WTO that they would be one of the member states likely to challenge the UK's proposed tariff schedules when it applies for membership. 

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50 minutes ago, bristolboy said:

Nonsense. New Zealand used to be a much biggerr exporter of lamb to the UK. Membership in the EU put a severe restraint upon that trade.

 

I do believe some African countries also suffered. They'd been big exporters of agricultural products to the UK prior to it joining. But of course, France must protect the inefficient but highly politically aggressive French farmers!

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