Price of New Zealand wine is set to fall
UK strikes post-Brexit trade deal with New Zealand that will slash tariffs, red tape and promises to bring cheap Kiwi wine
- A new trade deal means the price of a bottle of New Zealand wine is set to fall
- The agreement to cut tariffs and slash red tape was agreed in principle yesterday
- Tariffs of up to 10 per cent will be removed on UK goods including clothing
It is news that will get all lovers of Kiwi vino raising a glass or two.
A new trade deal means the price of a bottle of New Zealand wine is set to fall.
The agreement to cut tariffs and slash red tape was agreed in principle yesterday by Boris Johnson and New Zealand prime minister Jacinda Ardern in a video call.
It follows 16 months of negotiations on a post-Brexit trade deal.
Tariffs of up to 10 per cent will be removed on UK goods including clothing and footwear.
Boris Johnson announces the agreement with New Zealand Prime Minister Jacinda Ardern to cut tariffs and slash red tape
It will also be easier for Britons to live and work in New Zealand.
Popular products from New Zealand, including manuka honey and kiwi fruit, will be cheaper to buy here while tariffs of up to 20p per bottle will be removed from wines such as white sauvignon blanc and red pinot noir.
Tariffs of up to 20p per bottle will be removed from wines such as white sauvignon blanc and red pinot noir
Mr Johnson called it a ‘great deal for the UK… cementing our long friendship with New Zealand’.
He said: ‘It will benefit businesses and consumers across the country, cutting costs for exporters and opening up access for our workers.
‘This new deal will help drive green growth here and on the other side of the world.’
Trade between the two countries, worth £2.3billion last year, is set to increase, while it will be easier for smaller UK businesses to break into the New Zealand market.
Miss Ardern said: ‘This world-leading free trade agreement lays the foundations for even stronger connections.
‘It is good for our economies, our businesses and our people.’
It follows post-Brexit deals already struck with Australia and Japan.
Although it will include safeguards so the UK market cannot be flooded with New Zealand lamb, the National Farmers’ Union warned the agreement could pose a danger for British agriculture.
NFU president Minette Batters said: ‘We will be opening our doors to significant extra volumes of imported food while securing almost nothing in return for UK farmers.’
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