The Freight & Trade Alliance (FTA) and the Australian Peak Shippers Association (APSA) have been contacted by the Department of Foreign Affairs and Trade (DFAT) to confirm that the landmark Australia-UK free trade agreement has now been signed.
With a parliamentary approval process now required in both Australia and the UK, it is thought the agreement will come into effect in the second half of 2022.
This is the most comprehensive and ambitious free trade agreement that Australia has concluded, other than with New Zealand. It will deliver benefits for Australians, such as:
- Exporters will benefit from immediate elimination of tariffs on over 99% of Australian goods exports to the UK
- Farmers will have improved access to more than 65 million UK consumers
- Professionals will have the same access to the UK jobs market as European countries, except from the Republic of Ireland
- Australian households and businesses will save around $200 million a year in tariffs on British imports into Australia
For full details of the Australia-UK FTA, please visit the official press release.
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