New Zealand and the United Kingdom have agreed in principle to a free trade deal that will boost New Zealand’s gross domestic product by almost $1 billion. It will also cut red tape for UK businesses, end tariffs on UK exports, create new opportunities for UK technology and services companies, and make it easier for UK professionals to live and work in New Zealand.
After 16 months of talks, British Prime Minister Boris Johnson and New Zealand Prime Minister Jacinda Ardern agreed to the deal during a video call on Oct. 21, according to a statement by the British government.
