May 7, 2023 7:00am by David Farrar

Slow tracked, not fast tracked

Prime Minister Chris Hipkins says the fast-tracked free trade agreement with the UK has the potential to grow New Zealand’s GDP by $1b a year.

But a UK minister says he doesn’t expect that the UK’s meat market will “change radically”.

Hipkins is in London for the King’s coronation and is meeting with UK Prime Minister Rishi Sunak on Friday (UK time).

Sunak and Hipkins jointly announced overnight that the free trade agreement between the two countries will come into force at the end of May.

Is that really fast-tracked? Let’s see what was said when it was signed.

“We are aiming for this historic agreement to enter into force by the end of 2022, after both partners have ratified the agreement through our respective parliaments,” Damien O’Connor said.

So rather than being fast-tracked, it is actually coming into force at least five months late!

Still better late than never. It is great to have the FTA.