As the UK-New Zealand free trade agreement is set to come into force at the end of this month, seafood producers in New Zealand have three weeks to prepare.
The agreement was signed on 28th February last year, and has significant benefits for the New Zealand seaoof industry, as from the end of May, 45% of New Zealand’s fish and seafood products will be available tariff-free.
Of the remaining 55% of products, most (99.5%) will enter duty free within three years, and 100% will be tariff-free within seven years.
Seafood New Zealand chief executive Jeremy Helson says this is particularly good for hoki, which has tariffs eliminated from entry into force.
‘That’s a $2.2 million export market. Within three years, mussels, which are worth $6.4 million in exports, will be tariff-free as well,’ Jeremy Helson said.
‘New Zealand relies on free trade agreements to compete with goods from other global exporters and welcomes all diplomatic efforts to level the playing field. Our thanks to the Ministry of Foreign Affairs officials who have been working towards this day since 2017, and to Trade and Export Growth Minister Damien O’Connor.’