British Prime Minister Boris Johnson (right) salutes Australian Prime Minister Scott Morrison (left) at the entrance to 10 Downing Street in London, UK, on June 14, 2021.
Anadolu Agency | Anadolu Agency | fake images
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The UK agreed to a free trade agreement with Australia which it said represented a “new dawn” in its relationship with Australia.
The UK government said on Tuesday that the deal, known as the Free Trade Agreement or Free Trade Agreement, means that selling products such as cars, sweets and Scotch whiskey to Australia will cost less for British companies.
He added that the move would boost British industries, which employ 3.5 million people across the country.
“Today marks a new dawn in the UK’s relationship with Australia, backed by our shared history and values,” British Prime Minister Boris Johnson said in a statement.
“Our new FTA opens up great opportunities for British businesses and consumers, as well as young people who want the opportunity to work and live on the other side of the world.”
The deal was marked on Monday night when Australia’s trade minister said Johnson and his Australian counterpart Scott Morrison had agreed on the broad terms of the deal over a dinner in London’s Downing Street.
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The UK is keen to reach trade deals with countries around the world after its departure from the European Union, but the deal is not without controversy. British farmers, for example, have expressed concern that they could be undermined by cheap Australian agricultural imports and Australian food standards.
To address these concerns, the government said on Tuesday that British farmers “will be protected by a limit on duty-free imports for 15 years, using tariff quotas and other safeguards.”
“We are also supporting agricultural producers to increase their exports abroad, including new markets in the Indo-Pacific,” he added.
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The Free Trade Agreement with Australia is the first major agreement negotiated from scratch by the government since the UK’s withdrawal from the European Union. A final “initial agreement” will be published in the next few days.
The agreement is seen as a precursor to the UK’s accession to a broader free trade agreement for the Asia-Pacific region known as the Comprehensive and Advanced Trans-Pacific Partnership (CPTPP).
On Tuesday, the government said the trade agreement with Australia “is also a gateway to the fast-growing Indo-Pacific region and will fuel our bid to join the CPTPP, one of the world’s largest free trade areas,” covering £ 9 trillion of GDP 11 countries of Pacific nations from Australia to Mexico ”.
The UK was Australia’s fifth largest trading partner in 2019 and 2020, and last year the UK-Australia trade relationship was worth £ 13.9 billion ($ 19.6 billion).
The government said trade was expected to grow under the deal, adding that it would also provide more opportunities for young people (Britons under 35 will be able to travel and work in Australia more freely after the deal).
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