Trade and Investment, and Agriculture Minister Todd McClay is traveling to the United Kingdom to attend the first in-person joint NZ-UK Ministerial Trade Committee, marking the two-year anniversary of the New Zealand-United Kingdom Free Trade Agreement (FTA). McClay emphasized that better access to overseas markets is a vital component of the government's economic strategy to boost the economy and create better-paying jobs.
Since the NZ-UK FTA came into force, New Zealand has experienced a 21 per cent increase in exports to the UK, totaling an additional $644.4 million over two years. Goods exports have risen by 20 per cent, and services exports are up by more than 22 per cent. Among these, fruit and nut exports have shown significant growth, increasing by 52 per cent to reach $54 million.
During his UK visit, McClay will meet with key counterparts, including Rt Hon Jonathan Reynolds, Secretary of State for Business and Trade, and Rt Hon Steve Reed OBE, Secretary of State for Environment, Food and Rural Affairs. He will also engage with Carolyn Harris, the UK Trade Envoy to New Zealand. His schedule includes discussions with stakeholders such as Waitrose and the National Farmers Union, along with visits to local farms and interactions with New Zealand businesses operating in London.
The United Kingdom is New Zealand's seventh-largest trading partner, with two-way trade valued at $7.27 billion. In 2024, New Zealand exported $3.69 billion in goods and services to the UK, with fruit and nuts making a notable contribution.
Following his UK visit, Minister McClay will travel to Korea next week to attend the APEC Trade Ministers' Meeting, where he will hold bilateral discussions with APEC and CPTPP trading partners.
For more information:
Hon Todd McClay
New Zealand Government
Email: [email protected]
www.beehive.govt.nz