UK and Australia commit to rapid and ambitious free trade agreement
7032 Mins Read
The UK and Australia will today agree to begin trade negotiations as soon as possible after the UK leaves the EU on 31 October.
British International Trade Secretary Liz Truss is in Canberra, Australia, today where she will meet with senior politicians including Trade Minister Simon Birmingham.
Speaking ahead of the visit in Canberra, the International Trade Secretary Liz Truss said “It’s great to be in Australia this week as you are one of our highest priorities for a post-Brexit trade deal. And with good reason – trade between our two countries was worth £16.6 billion in the year to March 2019, and we have more than £46 billion invested in each others economies.”
Trade Minister of Australia Simon Birmingham (L) and UK Secretary of State for International Trade Liz Truss (R) attend a press conference at Parliament House in Canberra, Australia, 18 September 2019. EPA-EFE/LUKAS COCH
She added “Now, for the first time in nearly half a century, we are taking back control of our trade policy. I want to see an ambitious trade deal which reduces tariff and non-tariff barriers for UK exporters.”
The UK is one of Australia’s largest trading partners and our trading relationship was worth £16.6 billion in the twelve months to March 2019.
Around 15,000 UK businesses export their goods to Australia.
British Prime Minister Boris Johnson has said he will take the country out of the EU on Oct. 31 with or without a deal with Brussels.
But the British parliament this month passed a law that requires Johnson to ask the EU for a three-month delay to Brexit if a deal is not approved by Oct. 19.
Britain is Australia’s seventh-largest trading partner, the data shows.
Australia’s Minister for Trade Simon Birmingham said a trade deal with Britain will particularly benefit the country’s agricultural sector, worth around A$60 billion.
