The NZ UK Free Trade Agreement Is In Action From Today And Will Boost New Zealand’s Economy By Up To $1 Billion

The NZ UK Free Trade Agreement is in action from today and will boost New Zealand’s economy by up to $1 billion. Kiwi exporters are expected to save an estimated $37 million in tariffs annually with 99.5% of our current exports to the UK will now tariff-free. One example is the British love affair with NZ wine which is currently our largest export to the UK, earning around $473 million last year. Wine exporters will save at least $25 million in tariffs each year from today. Honey exporters will no longer pay $16 for every $100 of product they send to Britain. Advantages for butter cheese and apples will be applied over the coming years. Britain has also agreed with New Zealand to increase the age of eligibility for working holiday visas to 35 from 30, letting people stay for up to three years at a time.