A free trade agreement between the UK and Australia has been struck between the country’s prime ministers, Australia’s trade minister said.
Boris Johnson and Australian Prime Minister Scott Morrison agreed on the general terms of the deal during a dinner at Number 10 on Monday evening, Dan Tehan said.
“The two prime ministers held a positive meeting in London overnight and resolved outstanding issues regarding (the free trade agreement),” Tehan said in a statement.
The British government was eager to conclude a free trade agreement with Australia by the end of June to demonstrate its ability to create new economic opportunities after leaving the European Union.
An official announcement will be made later on Tuesday, Mr. Tehan said.
The deal aims to increase the volume of trade between the two countries above the current £ 20 billion.
It will be the first major post-Brexit free trade deal with a country with which the UK did not have an existing trade agreement as an EU. Member state.
The agreement is also important because it will set the conditions for future negotiations with other countries, including the United States.
Last month there appeared to be a split among ministers over the terms of the deal, with some fearing that a deal without a tariff or quota would leave farmers fighting for competition.
The Department for International Trade has repeatedly insisted that the trade deals signed would not “undermine UK farmers or undermine our high standards”.
But last month, farmer groups warned that a proposed free trade deal with Australia could put livelihoods at risk.
Some had fears they would not be able to compete with imports from Australia, where much larger farms and what some claim are lower welfare standards allow cheaper production.
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Source: news.sky.com
This notice was published: 2021-06-14 21:51:00
