Wednesday, 31 May 2023
Australia – United Kingdom Free Trade Agreement
Shadow Minister for Trade and Tourism, the Hon Kevin Hogan MP, has welcomed the entry into force today of the Australia- United Kingdom Free Trade Agreement (FTA).
“The Coalition paved the way for this trade deal with its limitless opportunities,” Mr Hogan said.
“I acknowledge and thank the hard work of my colleague, the Hon Dan Tehan MP, Department of Foreign Affairs and Trade (DFAT) Chief Negotiator Elisabeth Bowes and the many DFAT officials and those on the UK side involved in the negotiations that led to the trade agreement.
“The Australia – UK FTA places our historical trade linkages in a modern context.
“From the start, Australia was ambitious in its negotiations with the UK. It was this ambition that enabled a deal that provides for 99% of Australian products to enter the UK duty free and a timetable for the elimination of tariffs on beef, sheep meat, dairy and sugar.
“For the agriculture sector, this is a particularly poignant and important trade deal. I am encouraged by the work underway from across the beef, sheep meat, dairy and sugar sectors to use all that the deal has to offer.
“It was also our ambition that now means more Australians can work professionally in the UK and as of next year, more young Aussies can have a UK working holiday experience.
“And the deal will also enable increased two-way investment flows off the back of an already mature investment relationship.
“While it’s easy for others to claim credit when the hard work is done, I thank the Minister for Trade and Tourism, Senator the Hon Don Farrell for shepherding through agreed trade deal to its ratification.”
Eighty percent of Australian exports are now covered by free trade agreements. It was just 23% when the Coalition came to office in 2013.
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