UK և Australia agree on first free trade deal after Brexit | International trade news

The Prime Minister of the United Kingdom Boris John Onsson says the agreement marks a “new dawn” in relations between Britain and its “former colony”.

The United Kingdom և Australia announced a new trade deal on Tuesday. The first such agreement negotiated by the UK from scratch after leaving the European Union.

The agreement, which will eliminate tariffs and bureaucratic staff, was hailed by British Prime Minister Boris John Onson as a “new dawn” in relations between the two countries.

The Conservative government of John Onson sees the deal as a key element of its Brexit strategy to move the country’s economic center out of Europe and look for new opportunities in the fast-growing Indo-Pacific countries.

Earlier deals with other countries, including Japan Aponia, were based on existing agreements with the 27-member bloc.

Australian Prime Minister Scott Morrison և John Onson overcame sticky points during the post-G7 talks in the UK, with Morrison as a guest.

The UK said the deal would mean that goods such as cars, Scotch whiskey, biscuits and ceramics would be cheaper to sell to Australia, a former British colony.

It will see UK citizens under the age of 35 who will be able to travel and work more freely in Australia.

Going the other way, the deal will eliminate tariffs on Australian goods such as wine, swimwear and confectionery imported to the UK.

“Today marks the new dawn of the UK’s relationship with Australia, strengthened by our shared history and shared values,” said John Onson.

“This is a global Britain at its best. It looks to the outside world – shocking deals that deepen our alliances, help ensure that every part of the country is better off from the epidemic. “

Foreign Minister Dominique Raab tweeted that the deal was a “stepping stone” to efforts to join a free trade zone in the Indo-Pacific region, a comprehensive, progressive Trans-Pacific Partnership agreement.

The UK is Australia’s eighth largest trading partner, and Australia – the UK – the 20th largest in bilateral trade – A $ 26.9 billion ($ 20.7 billion).

By the time the UK joined the European Common Market in 1973, it was Australia’s most lucrative trading market.

“New opportunities”

While other details of the deal have yet to be determined, some official estimates say the deal could add 500 500m ($ 705.7m) to the UK’s output in the long run, bringing the economy to about 2 trillion pounds ($ 2.8 trillion). ):

The deal will be scrutinized by British farmers who fear they could be left out of the business if the deal eliminates Australian lamb and beef tariffs.

The United Kingdom has announced that British farmers will be protected for 15 years without tariff restrictions, using tariff rates, quotas and other guarantees.

Australian Commerce Secretary David LittlePrud told 4BC radio that the deal was a “victory for Australian agriculture”.

The Australian economy, however, is already focused on Asia.

“This free trade agreement is more about symbolism than immediate tangible material benefits,” said Ben Wellings, Senior Lecturer in International Policy at Monash University.

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