UK announces post-Brexit trade deal with New Zealand

London hopes the deal will open the door to a Pacific Free Trade Agreement

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After Australia and Japan, The United Kingdom announced a post-Brexit trade deal with New Zealand on Wednesday that strengthens its Trade relations with the Indo-Pacific region and its ambition to join the Trans-Pacific Trade Agreement.

The culmination of the agreement took place on Wednesday during a video call between the British Prime Minister. Boris Johnson, and its New Zealand counterpart, Jacinda Ardern, The British Ministry of Commerce said in a statement.

“This is an excellent trade deal for the United Kingdom, which strengthens our long-standing friendship with New Zealand and strengthens our ties with the Indo-Pacific region,” Johnson was quoted as saying in the statement.

London hopes the deal will open the door A transparent free trade agreement (CPTPP), “a free trade zone bringing together 11 countries with a GDP of 8,400 million dollars (9,790 million euros), according to an executive report.

Signed by New Zealand, Australia, Canada and Japan, the CPTPP is the most important free trade agreement in the region. In February this year, British officials asked to be part of it.

After Brexit, London reached trade deals with the EU, Japan and Australia, as well as some European countries that are not part of the EU, such as Norway, Iceland and Liechtenstein.