UK starts talks with Australia, New Zealand on FTAs

17 Jun '20

2 min read

Pic: Shutterstock

Australia and New Zealand will soon start negotiations on a free trade agreement (FTA) with the United Kingdom. Australian minister for trade, tourism and investment Simon Birmingham recently said his country was “ready to help the UK find new beginnings post-Brexit and in doing so, open up new doors for our farmers, businesses and investors”.

The United Kingdom is Australia’s seventh largest trading partner and New Zealand’s sixth largest trading partner, with UK-New Zealand trade totalling almost $NZ 6 billion last year.

“We’ve been preparing for this deal since the UK decided to leave the EU [European Union] and welcome their agreement to commence negotiations,” Birmingham said in a statement.

He said both sides wanted “an ambitious and comprehensive agreement that builds on our already significant people-to-people links and creates new opportunities for exporters, generating more jobs in our nations”.

New Zealand’s trade minister, David Parker, echoed Birmingham’s sentiments, according to global newswires. “As the UK embarks on its next steps post-Brexit, New Zealand is pleased to be among the first countries to negotiate a trade agreement with one of our oldest friends,” Parker said.

Parker said talks would focus on removal of trade tariffs, new approaches to non-tariff barriers, streamlined customs, regulatory cooperation, development of digital trade and trade provisions in support of sustainable development, including climate change.

The first round of negotiations between Australia and the UK is due to begin on 29 June, but due to COVID-19 restrictions will be held remotely.

Fibre2Fashion News Desk (DS)

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