Complete the article below with the words in the box. Then answer the questions.

Secured; implemented; exports; diversify; tariffs; force; free-trade;

trade; gross domestic product (GDP); recover;

New Zealand Says U.K. Trade Deal Boosts Economy at Crucial Time
By Ainsley Thomson
October 20, 2021, 11:30 PM GMT+2

New Zealand has become the second country to secure a post-Brexit (1) ____________
agreement with the U.K., in a deal that aims to eliminate all tariffs on exports and eventually
boost the South Pacific nation’s economy by almost NZ$1 billion ($720 million).

New Zealand Prime Minister Jacinda Ardern said the two countries had agreed the FTA* in
principle, with the text to be finalized over coming months.

“This deal will cut costs for exporters immediately, creates opportunities for New Zealand
businesses to grow and (2) _____________ their trade, while boosting the economy as we
(3)__________ from Covid-19,” Ardern said in a statement Thursday in Wellington. “It’s one of
our best deals ever and (4) ________________ at a crucial time.”

The FTA marks the U.K.’s second deal with a major ally that goes beyond rolling over a pre-
existing European Union trade relationship after Australia secured an in-principle agreement in
June.

New Zealand said the U.K. will remove most tariffs on its existing (5)______________ to the
country -- including wine, honey, onions, some dairy products and most industrial products -- as
soon as the agreement comes into (6)___________. This is expected to save exporters NZ$37.8
million a year based on current export volumes, Ardern said.

However, (7) __________ on exports including butter, cheese, beef and sheep meat, seasonable
apples and some fish will slowly be removed over the next 15 years. 

Pre-Covid estimates project that once the deal is fully (8) _____________, New Zealand goods
to the U.K. will increase by as much as 40% and that New Zealand (9)________________ will
receive a boost of as much as NZ$970 million, she said.
“Progressing this FTA will also give a significant boost to the U.K.’s efforts to expand its
engagement in the wider Indo-Pacific region, which New Zealand warmly welcomes, and as it
pursues accession to the region’s premier (10) _____________ agreement, the CPTPP,” Ardern
told a news conference in Wellington. 

Source: https://www.bloomberg.com/news/articles/2021-10-20/new-zealand-says-u-k-trade-deal-boosts-
economy-at-crucial-time

*FTA = Free Trade Agreement

Vocabulary:

Roll over = extend a particular financial arrangement

Questions:

Why is the agreement beneficial for New Zealand?

True or False?

All tariffs will be removed by the UK as soon as the agreement comes into force.

This agreement will contribute to an increase of New Zealand’s GDP.