The UK government has announced the signing of a new free trade deal with New Zealand. UK PM Boris Johnson hailed it as “A great trade deal for the United Kingdom, cementing our long friendship with New Zealand and furthering our ties with the Indo-Pacific.”
New Zealand premier Jacinda Arden was similarly effusive, saying: “The United Kingdom and New Zealand are great friends and close partners. The historical connections that bind us run deep. This world-leading free trade agreement lays the foundations for even stronger connections as both countries embark on a new phase in our relationship. It is good for our economies, our businesses and our people.”
The deal, which has been in negotiation for almost a year, marks one of the first major post-Brexit FTAs delivered by the Department for International Trade. It is also a confirmation that the two countries common interests are evolving, bringing in more digital sectors like fintech alongside more traditional links like agriculture.
“This is a really good step in the right direction,” says Paul Beare, who is currently based in Auckland but running UK accounting firm Paul Beare Ltd. “It shows that the bridge between the two countries is still really strong, and it should reassure NZ companies that the UK is very much open for business.
“With the growth in the fintech sector especially strong in the two countries there’s no doubt the FTA will further cement the links and make it easier for smart NZ companies to ‘arrive and thrive’ in the UK.”
Paul Beare Ltd has developed into one of the leading advisory firms helping overseas businesses set up in the UK. With a strong set of contacts on both sides of the world, Paul and his team are ideally placed to play a pivotal role in UK-NZ trade.
“We’ve been following the progress of the FTS closely with our contacts in the relevant ministries,” says Paul.
“As we reported in the summer it’s been a tough job getting the deal done but it hopefully marks the beginning of an exciting new era of UK-NZ trade.”
Paul Beare Ltd is one of the leading accounting firms specialising in helping overseas businesses set up in the UK. If you’re in need of advice or support in this or any other area, we’re right here for all your needs. You can contact us for help from tax and payroll to accounting and banking.