Post-Brexit trade with New Zealand is being brought into focus this morning, with Westminster’s top trade committee examining the impact of the free trade deal signed in February.
The arrangement between the UK and the Pacific nation, which is more than 18,000 miles away, is being looked at by two panels, focusing on services and manufacturing.
According to the department for international trade, which is hosting the committee meeting, there was £2.5bn worth of trade in 2020-21.
This morning it was reported red tape related to Brexit has led to losses of £47bn, due to cross-border tax complications.
Industry leaders and experts attending the first session from 10am looking a services, include academic professor Andrew Lang, the Federation of Small Businesses’s Lucy Monks, The Law Society’s Catherine Brims and Chris Southworth of the International Chamber of Commerce, UK.
The second session will focus on trade in manufactured goods, including on exports to the country, with MPs likely to ask the panel about views on tariffs and if the agreement can break down barriers to trade.
Speaking on the services panel from 11am, include David Henig from the European Centre for International Political Economy, Tim Hiscock of the British Exporters’ Association, as well as Jack Semple, Alliance Secretary at Engineering and Machinery Alliance.
More to follow