UK Announces 'Historic' Free Trade Deal With Australia
Umer Jamshaid 1 month ago Tue 15th June 2021 | 02:50 PM
LONDON (UrduPoint News / Sputnik - 15th June, 2021) The United Kingdom has secured a "historic" post-Brexit free trade deal with Australia that will scrap tariffs on products such as UK cars, Scotch whisky and confectionary and offer young people the opportunity to live and work in Australia, the UK government announced on Tuesday.
So far, the UK government has inked post-Brexit trade deals with Japan, Canada, Vietnam, Singapore, among other countries, while negotiations with the United States and New Zealand still continue. It has also formally applied to join the Comprehensive and Progressive Trans-Pacific Partnership.
"This is global Britain at its best - looking outwards and striking deals that deepen our alliances and help ensure every part of the country builds back better from the pandemic," Johnson said, stressing that the new free-trade agreement with Australia "opens fantastic opportunities for British businesses and consumers, as well as young people wanting the chance to work and live on the other side of the world.
UK International Trade Secretary Liz Truss also hailed the deal as an example of what the post-Brexit UK can achieved "as a sovereign trading nation," noting that the agreement will pave the way for London to join the 9 trillion Pounds Trans-Pacific Partnership free trade area.
Total trade between the UK and Australia was worth 13.9 billion pounds in 2020, but UK farmers have raised concerns about being undercut by cheap, lower-welfare imports under the new tariff-free and quota-free trade deal.