U.K. and New Zealand approve trade deal; hope it opens more doors

Although trade with New Zealand accounts for only 0.2% of the U.K.'s trade, Britain hopes it will help open the door toward membership in the trans-Pacific trade partnership.

Britain and New Zealand have agreed on a trade deal that eliminates tariffs on a wide range of goods as the U.K. expands economic links around the world following its exit from the European Union.

The deal was cemented late Wednesday in a conference call between the U.K. Prime Minister Boris Johnson and his New Zealand counterpart, Jacinda Ardern, after 16 months of talks by negotiators.

Although trade with New Zealand accounts for only 0.2% of the U.K.'s trade, Britain hopes it will help open the door toward membership in the trans-Pacific trade partnership.