Wellington, May 5 (BNA): Leaders of the three countries said on Friday that free trade agreements between Britain, New Zealand and Australia will enter into force by the end of this month.
The announcement was made while the two prime ministers of the two Southern Hemisphere nations were in London for the coronation of King Charles III.
The deals come as part of Britain’s efforts to expand its economic ties after its withdrawal from the European Union. Both deals were first agreed to in 2021, reports the Associated Press.
New Zealand officials say her deal will help boost sales of products such as butter, beef and honey, and boost the size of its economy by up to NZ$1 billion ($629 million).
New Zealand Prime Minister Chris Hepkins said it was a gold-standard agreement.
British Prime Minister Rishi Sunak said the agreement with New Zealand reflects the close relationship between the two countries.
Australian Prime Minister Anthony Albanese said it would mean greater market access for exporters.
Albanese said it would also mean greater access for young Australians to work in Britain and vice versa after expanding the terms of the working holiday arrangement.
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