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UK agrees free trade deal with New Zealand

The BBC reported, the UK has agreed a free trade deal with New Zealand which it says will benefit consumers and businesses.
Prime Minister Boris Johnson said the deal will cut costs for exporters and open up New Zealand's job market to UK professionals.
The BBC said, the government hopes it is a step towards joining a trade club with the likes of Canada and Japan.
According to the government's own estimates, the New Zealand deal itself is unlikely to boost UK growth.
Overall, only a tiny proportion of UK trade is done with New Zealand, less than 0.2%.
Labour and the National Farmers Union (NFU) said the deal could hurt UK farmers and lower food standards.

But International Trade Secretary Anne-Marie Trevelyan said it "affords opportunities in both directions for great sharing of produce" and British farmers should not be worried.
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According to the BBC, Mr Johnson and New Zealand's Prime Minister, Jacinda Ardern, agreed the pact in a video call on Wednesday after 16 months of negotiations.
It mentioned that Tariffs will be removed on UK goods including clothing, ships and bulldozers, and on New Zealand goods including wine, honey and kiwi fruits.
The government said, professionals such as lawyers and architects will be able to work in New Zealand more easily.
In a video of the deal being struck, Mr Johnson said: "We've scrummed down, we've packed tight, and together we've got the ball over the line and we have a deal. And I think it's a great deal."
Ms Ardern said: "I loved your use of rugby metaphors, but if we were going to continue that on, then naturally it would conclude with the All Blacks winning.
"And I know that New Zealand feels that way with this free trade agreement, but actually, it's good for both of us, as it happens."
Nothing for farmers
The NFU said the deal, like the one with Australia, could have a "huge downside", especially for UK dairy and meat farmers.
Its president, Minette Batters, said the Australia and New Zealand deals mean "we will be opening our doors to significant extra volumes of imported food - whether or not produced to our own high standards - while securing almost nothing in return for UK farmers".
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She said: "The fact is that UK farm businesses face significantly higher costs of production than farmers in New Zealand and Australia, and it's worth remembering that margins are already tight here due to ongoing labour shortages and rising costs on farm."
"The government is now asking British farmers to go toe-to-toe with some of the most export-orientated farmers in the world, without the serious, long-term and properly funded investment in UK agriculture that can enable us to do so.
Emily Thornberry, shadow trade secretary, said the government's own figures showed the deal would "cut employment in our farming communities, produce zero additional growth, and generate just £112m in additional exports for UK firms compared to pre-pandemic levels".
She added that the only winners were "the mega-corporations who run New Zealand's meat and dairy farms".
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She said: "As our economy recovers from the pandemic, we need trade deals that will boost jobs and growth, open up big new markets for UK exporters, and support our objectives to buy, make and sell more in Britain. This trade deal with New Zealand fails on every count."
The international trade secretary said British farmers should not be concerned about increased lamb imports because the lambing seasons were different in the UK and New Zealand.
Anne-Marie Trevelyan said: "I'm very comfortable it's a complimentary - because of the seasons… consumers will have more choice."
She said trade with New Zealand was currently worth £2.3bn a year but had the potential to increase by up to 30% by 2030.
Source: BBC
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BENEFIT Sponsors BuildHer...
- April 23, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”
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