The announcement came as the prime ministers of the two southern hemisphere nations were in London to attend the coronation of King Charles III.
The deals are part of Britain’s efforts to expand economic relations following its withdrawal from the European Union.
Both deals were first completed in 2021.
New Zealand officials say the deal will help boost sales of products such as wine, butter, beef and honey, and increase the size of its economy by up to NZ$1 billion ( $629 million).
New Zealand Prime Minister Chris Hepkins said it was a “gold standard” deal.
“The market access record is among the best New Zealand has ever achieved in a trade deal,” Hipkins said in a statement.
For his part, British Prime Minister Rishi Sunak said the deal with New Zealand reflected the close relationship between the two countries.
“This transaction will open up new opportunities for businesses and investors across New Zealand and the UK, driving growth, boosting jobs and most importantly, building a more prosperous future for the next generation,” Sunak said. in a press release.
Australian Prime Minister Anthony Albanese said implementing the deal would mean better market access for its exporters.
“For beef, sheep products, seafood and our other products, this means better access to the UK market,” Albanese added in an interview with the Australian Broadcasting Corporation.
Albanese said it would also mean access for young Australians to work in the UK and vice versa after expanding the terms of the working holiday scheme.
A similar scheme has also been extended between New Zealand and Britain, increasing the length of work visas from two to three years and the maximum eligible age from 30 to 35.
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