A trade arrangement between the UK and New Zealand which helps
boost international trade will continue when the UK leaves the
European Union, supporting jobs in both countries.
The agreement maintains all relevant aspects of the current
EU-New Zealand mutual recognition agreement on conformity
assessment (MRA).
It helps facilitate trade flows between the two nations and means
UK exporters can ensure goods are compliant with New Zealand’s
technical regulations before they depart the UK, saving
businesses time, money and resources. New Zealand exporters to
the UK benefit in the same way.
The agreement covers sectors accounting
for around £169m of UK exports to New Zealand - more
than 17% of total UK exports to the country - and was signed
by International Trade Secretary and New Zealand’s High
Commissioner.
It coincides with Prime Minister Jacinda Ardern’s visit to London
today.
The agreement will ensure UK and New Zealand businesses can
continue to benefit from existing arrangements for mutual
recognition as they do currently in any Brexit scenario.
It covers valuable sectors such as UK medicinal
products and machinery exports, worth an estimated £146m per
year.
A similar agreement signed last week with Australia. The
agreement has received warm words from business
groups including the Association of British HealthTech
Industries (ABHI), which supports over 280 members, many of which
trade under the agreement.
International Trade Secretary said:
“Today, our countries are laying down a clear commitment to
each other’s trading relationship which has already grown to
£2.7bn.
“This agreement provides UK and New Zealand businesses the
certainty they need to continue to access each other’s
markets as the UK leaves the EU.
“The UK is also prioritising a new free trade agreement
with New Zealand after we leave the EU as well as potential
accession to the trans-Pacific trading bloc, CPTPP, which counts
New Zealand as one of its members.”
Chief Executive of ABHI, Peter Ellingworth said:
“The UK’s HealthTech industry has an international reputation
for quality, and it is critically important that the sector is
supported in exporting to key markets.
“The agreements with Australia and New Zealand are therefore
welcome news, enabling two-way trade and the continued supply of
products to patients.”
New Zealand is one of the first countries the UK is looking to
secure a free trade agreement with after it leaves the EU, and
the UK is currently analysing the results of a public
consultation on the future agreement. New Zealand
launched their own consultation on the
23rd November 2018.
ENDS
Notes to editors
- The agreement will now be laid before Parliament under the
Constitutional Reform and Governance Act 2010.
- SheTrades Outlook is an online tool being developed by the
International Trade Centre with UK funding to help bridge the
trade and gender data gap and New Zealand’s support will be a
great asset in its development.
- ABHI works with the Department for International Trade’s Life
Sciences Organisation to run HealthTech Missions to key
markets across the globe, helping UK companies establish links to
support their growth.
- All figures are based on internal DIT estimations of
bilateral goods trade covered by specific directives in the MRA
using HMRC Overseas Trade Statistics. 5-year average
trade flows (2013-2017).
