WELLINGTON (CU)_The United Kingdom and New Zealand are currently nearing an agreement on principle on a free trade deal following recent discussion between the parties in late last month. According to Liz Truss, the International trade secretary from London, “great progress” was made during the talks which ran from 19 to 30 July. Meanwhile, exporters and negotiators from New Zealand are hoping for a deal similar to that which was agreed between the UK and Australia, which saw tariffs and quotas on all products being progressively removed mover the next five to fifteen years.
According to experts New Zealand may be in as good a position as all of Britain’s trading partners, in meeting certain requirements such as ethical farming practices. However, as a relatively small market for British goods, the Pacific island nation does not have a lot to offer its European trading partner except for concessions on investment, financial and legal services, as well as the digital economy. Nevertheless, in terms of investments New Zealand has more regulations and policies which some believe might get in the way.
For instance, most foreign entities which intend to invest in the Pacific island nation will have…
