UK-New Zealand Free Trade Agreement: An Agri-food Sector Perspective

After 16 months of negotiations, the UK and New Zealand governments reached agreement in principle on a free trade agreement (FTA) on Wednesday, 20 October 2021. Negotiations between the two countries on the details of the trade agreement continue. The draft UK-Australia Free Trade Agreement last June (yet to be concluded), and the UK-New Zealand (UK-NZ) agreement are the first significant post-Brexit trade deals that are not a rollover of existing agreements that the UK enjoyed as a member of the EU. 

This brief analysis sets out the main elements of the FTA in relation to future access by New Zealand (and Australia) to the UK beef, lamb and dairy product markets. It gives a brief overview of the global market situation for these products, and a summary of the current situation in the UK market. It also comments on the potential implications for future Irish exports of beef, lamb, butter and cheese to the British market. Where relevant, the paper sets out the combined impact of the UK deals with NZ and Australia.  

The author, Con Lucey, is a member of the IIEA UK Group and a former Chief Economist of the IFA.