Trade Minister Heads to UK, Korea for Trade Talks
Trade and Investment, and Agriculture Minister, Todd McClay travels to the United Kingdom today to participate in the first in-person joint NZ UK Ministerial Trade Committee and to mark the two-year anniversary of the entry into force of the New Zealand United Kingdom Free Trade Agreement (FTA).
“Better access to overseas markets is an important part of the Government’s economic plan to grow the economy and create better paying jobs, Minister McClay says.
The NZ-UK FTA has seen a 21 per cent boost in Kiwi exports worth an additional $644.4 million over the two years since the deal came into force. This is delivering real benefits for Kiwi exporters.
“The results speak for themselves -goods exports to the UK have risen by 20 per cent, and services exports are up over 22 per cent in just two years, Mr McClay says.
“And the primary sector is leading the way with big increases in food and fibre exports along with travel and tech.
While in the UK, Minister McClay will meet with his trade and agriculture counterparts, the Rt Hon Jonathan Reynolds, Secretary of State for Business and Trade, Rt Hon Steve Reed OBE, Secretary of State for Environment, Food and Rural Affairs, as well as the UK Trade Envoy to New Zealand, Carolyn Harris.
He will also engage with key partners and stakeholders, including Waitrose and the National Farmers Union, visit local farms, and connect with New Zealand businesses operating in London.
The UK is New Zealand’s 7th largest trading partner, with two-way trade worth $7.27 billion. In 2024, New Zealand exported $3.69 billion in goods and services to the UK
Minister McClay will then travel from the UK to Korea on Tuesday of next week to participate in the APEC Trade Ministers meeting where he will hold bilateral meetings with APEC and CPTPP trading partners.
https://www.beehive.govt.nz/release/trade-minister-travels-uk-korea-trade-talks