New Zealand's Government is fast-tracking legislation to activate an FTA with the European Union by May 1, aiming to unlock $100 million in tariff savings for its first year. Trade Minister Todd McClay has reached a deal to curtail the normal legislative process by missing out the legislation’s second reading when it returns to the House this Wednesday. Minister McClay said he expects a third and final reading and vote on the legislation the next day “so that the following Monday we can get it signed into law”.
“We will notify the EU that on May 1 the tariff savings kick in, which for kiwifruit and onion growers and a few others is important because their goods are on their way to that market right now,” said Minister McClay.
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