Fonterra Seizes New Opportunities with UK Free Trade Agreement
Source: https://www.nzherald.co.nz
Mike Bones, the Managing Director of Fonterra Europe, shared insights into the Free Trade Agreement (FTA) between New Zealand and the UK. This FTA, which commenced on June 1, is described as a "gold-standard" agreement and provides Fonterra with tariff-free access to the UK market for the first time in half a century.
Fonterra plans to take a simplified and cost-effective approach to re-entering this market, with a focus on its Ingredients business. The company has already made substantial progress by securing significant sales contracts with key UK partners and targeting major UK retailers for products such as butter and cheddar.
The strategy moving forward is to build strong and transparent partnerships in the UK that will bring value to both Fonterra and its farmers.
The strategy moving forward is to build strong and transparent partnerships in the UK that will bring value to both Fonterra and its farmers.
