New Zealand PM seeking UK trade deal soon after Brexit

World
Europe

New Zealand will seek to agree a free trade deal with Britain as soon as possible after Brexit, Prime Minister Bill English said on Friday after talks with British PM Theresa May in London.

Britain is not able to sign trade deals with third countries while it remains a member of the European Union, but the government has said it is keen to start preparatory work so agreements can be reached quickly after it leaves.

"Our relationship will remain strong once the UK leaves the European Union," English said at a news conference.

"We are ready to negotiate a high-quality free trade agreement with the UK when it is in a position to do so. We already have a strong and diversified trading relationship with the UK and a free trade agreement will build on that."

European Commission President Jean-Claude Juncker at the European Parliament in Strasbourg, France, December 14, 2016. / CFP Photo

Britain is New Zealand's fifth-largest bilateral trading partner, and New Zealand imported goods and services worth 1.1 billion pounds (1.34 billion US dollars) from Britain in 2015.

During a visit to Brussels earlier this week, English said the EU and New Zealand also aimed to launch free trade negotiations as soon as possible.

European Commission President Jean-Claude Juncker said talks with New Zealand could be wrapped up far more quickly than is normal, perhaps in just two to three years.

May said that while Britain remained in the EU, it would work to support an EU-New Zealand trade deal, while also making preparations for a future "bold new" bilateral agreement.

British Prime Minister Theresa May (R) and New Zealand Prime Minister Bill English give a press conference at 10 Downing Street in London on January 13, 2017. / CFP Photo ‍

Last year Britain and New Zealand agreed to set up regular trade policy talks and May said trade minister Liam Fox would visit New Zealand in the coming months to launch these discussions.

May and English also discussed Britain's preparations for leaving the EU, with the New Zealand leader praising May's "clarity and determination" on Brexit.

May, who has said she will begin the formal EU divorce process by the end of March, has come under fire from businesses, investors and lawmakers for having given little away about her plans for Brexit.

She is due to give a speech next week setting out more on the government's objectives.

(Source: Reuters)