Subscriber login Close [x]
remember me
You are not logged in.

UK government announces free trade deals with Australia and New Zealand in boost for wine exports

Published:  05 May, 2023

The UK’s free trade deals with Australia and New Zealand will come into effect at the end of the month as the Commonwealth allies enter talks ahead of the coronation of King Charles III.

According to the UK government, the deal will increase bilateral trade with Australia by 53% and with New Zealand by 59% in the long term.

Both trade deals will remove tariffs on all UK goods exports from Australia and New Zealand, potentially driving economic growth, cutting red tape for digital trade, and making it easier for UK professionals to live and work in Australia and New Zealand.

New Zealand officials said the deal would help boost sales of agricultural products like wine, butter, beef and honey, and increase the size of its economy by up to 1 billion New Zealand dollars.

In a statement, New Zealand prime minister Chris Hipkins said: “The market access outcomes are among the very best New Zealand has secured in any trade deal.”

Anthony Albanese, prime minister of Australia was similarly buoyant: “So for beef, for our sheep products, for our seafood, for our other products it will mean much greater access to the British market,” he told the Australian Broadcasting Corp.

The New Zealand Winegrowers also welcomed the announcement: “The UK Free Trade agreement is very positive for the New Zealand wine industry. It will more closely align the winemaking standards across the two countries, and help reduce technical barriers to trade, by minimising burdens from certification and labelling requirements on New Zealand wine exports. It will also support future growth in the market, and encourage exporters to focus on the UK,” said Sarah Wilson, general manager of advocacy and general counsel at New Zealand Winegrowers.

“The UK is New Zealand’s second-largest export market for wine, with exports valued at over $470 million last year. UK consumers appreciate the distinctive flavours, commitment to quality, and know New Zealand wine is a unique product that they can trust.

“This agreement is especially significant at a time when we are facing increasing costs across the industry, and it will make a big difference for those who export to the UK market.

“We thank Ministers and officials for their support and conduct of ongoing negotiations over the past few years, during what have been challenging and uncertain times,” she added.