UK Signs Historic Free Trade Deal with Australia

The UK has signed a significant free trade deal with Australia in what is being termed a new dawn in our relationship with the land down under. The new agreement will be the first major trade deal

negotiated from scratch since we left the EU and will deliver tariff-free trade for all British goods.

The deal removes tariffs on £4.3 billion worth of exports, making it cheaper to sell iconic products like cars, Scotch whisky and ceramics into Australia which in turn supports 3.5 million jobs across the country.

It will enable more producers access to a growing market, cutting red tape for UK businesses who already export to Australia, whilst furthering opportunities for those businesses who wish to.

In a win for UK farmers there is also set to be a cap on tariff-free imports for 15 years and help for agricultural producers to increase their exports overseas.

Commenting on the agreement Antony Higginbotham MP for Burnley and Padiham said:

I promised that we would seize the opportunities of Brexit and that’s exactly what we’re doing. This free trade deal with Australia is further proof of the interest that exists in Britain as an independent global trading nation.

It will bring benefits to businesses across the UK, including here in Burnley and Padiham and I fully support what the International Trade Secretary is doing to promote our Global Britain vision.

Included in the agreement is also a strengthening of the historic ties between the UK and Australia with easier travel for those under the age of 35 years old who will be able to travel and work in Australia more freely.

The ten key benefits of our new trade deal with Australia:

1. It delivers tariff free trade for all British goods. The deal removes tariffs on £4.3 billion of exports, making it cheaper to sell iconic products like cars, Scotch whisky and ceramics into Australia – supporting 3.5 million jobs across the country. Car makers in the Midlands and the North of England will also benefit. 
    
2. Makes it easier for Brits to travel and work in Australia. British people under the age of 35 will be able to travel and work in Australia for up to three years, opening up major opportunities for younger people. Highly skilled professionals will now be able to work in Australia temporarily, and Aussie firms will no longer have to prioritise hiring Australian nationals first. 
    
3. Delivers lower prices and more choice for British shoppers. The elimination of tariffs on Australian favourites like Jacob’s Creek and Hardys wines, TimTams and Vegemite will boost choice for British consumers and save British households up to £34 million a year. 
    
4. Enhances access for British tech companies. The deal will create opportunities for the UK’s cutting edge digital and tech sectors, preparing us to lead in industries of the future like AI, space exploration and low emissions technology. 
    
5. Makes it easier for lawyers and other professionals to work in Australia without re-qualifying. UK lawyers will be able to practice in Australia without having to requalify as an Australian lawyer. The deal will allow for the recognition of UK professional qualifications across many sectors, creating opportunity for our professionals while allowing British companies to attract and retain global talent. 
    
6. Boosts UK services industries. The UK exported £5.4 billion worth of services to Australia in 2020 accounting for more for 56 per cent of our total exports to the country. The combined effect of the deal’s cutting-edge provisions, allowing UK and Australian service professionals access to each other’s markets, and reduced barriers to investment will give a substantial lift to the UK’s service sectors.
    
7. Slashes red tape for entrepreneurs and small business. Red tape and bureaucracy will be torn down for more than 13,000 small businesses across the length and breadth of the UK who already export goods to Australia. The agreement will deliver quicker export times and ensure small business have access to new intelligence that will better allow them to seize the opportunities created by the deal. 
    
8. Creates access to billions of pounds worth of new opportunities for UK firms. British companies will now be able to bid for additional Australian government contracts. It is the most substantial level of access Australia has ever granted in a free trade agreement, including in transport and financial services.  
    
9. Protects British farmers with a cap on tariff-free imports for 15 years. Supporting and protecting British farmers, so they can benefit from new trading opportunities.
    
10. Paves the way to CPTPP. Australia strongly supports UK membership of CPTPP, which would further open up eleven Pacific markets worth £9 trillion. CPTPP membership will secure British exports superior access to these growing markets, with one third of middle class consumers expected to be in Asia by 2030.