The UK and Australia have reached a free trade agreement, the first deal negotiated from scratch after Brexit.
Boris Johnson said the duty-free deal, which Downing Street says will see British cars, Scotch whiskey, biscuits and ceramics become cheaper to sell, marks a “new dawn” in Kingdom relations -United with Australia.
The Prime Minister added: “Our new free trade agreement opens up fantastic opportunities for UK businesses and consumers, as well as young people who want the chance to work and live on the other side of the world.
“This is global Britain at its best – looking outward and making deals that strengthen our alliances and help ensure every part of the country rebuilds itself better after the pandemic.”
Key points of the deal revealed so far include:
• Brits under 35 will be able to travel and work in Australia more freely
• Tariffs will be removed on Australian favorites like Jacob’s Creek and Hardys wines, swimwear and confectionery, as well as increased choice for UK consumers and savings of up to £ 34million per year
• Downing Street said the deal will help distillers by removing tariffs of up to 5% on Scotch whiskey, while automakers in the Midlands and northern England will see tariffs reduced by up to 5%
• Number 10 said more than 450 companies in Wales exported to Australia last year and are expected to benefit, while “life science companies and chemical manufacturers are expected to benefit by particular”
• He said that in Northern Ireland 90% of all exports to Australia are “machinery and manufactures widely used in Australia’s mining, quarrying and recycling sectors”, and under l agreement, tariffs will be abolished and customs procedures “simplified”
Trade between the UK and Australia was worth £ 13.9 billion in 2020, with the UK ranking as Australia’s fifth largest trading partner.
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Source: news.sky.com
This notice was published: 2021-06-15 08:03:00
