AUSTRALIA-UNITED KINGDOM FREE TRADE AGREEMENT NEGOTIATIONS COMMENCE

Member for Barker Tony Pasin has welcomed the news that the Australian Government has launched Free Trade Agreement (FTA) negotiations with the United Kingdom (UK) for a comprehensive, ambitious and mutually beneficial bilateral agreement.

“We are committed to progressing the FTA, and improving market access for agricultural products will be at the forefront of negotiations. This is really optimistic news for Barker,” said Mr Pasin.

“Trade between the countries totals around $1.5 billion with Australia exporting $638 million in agricultural products to the UK.”

“Key export commodities like wine, sheep meat, beef and almonds are set to be big winners for Aussie exports and this means more jobs in key Barker industries.

“Australian farmers produce to the highest environmental and animal welfare standards and are rewarded all over the world for their high-quality produce. The UK is a market with whom we can share products, innovation, and services in agriculture.”

Expanding opportunities for Australian exporters is a key pillar of the Federal Government’s economic plan and builds on successes that have already fuelled Australia to record levels of exports and record trade surpluses.

This will build on the Coalition Governments already successful Free Trade record over the last six years and the recent FTAs with Indonesia, Peru and Hong Kong.

“Together with the deals we are pursuing with the European Union, and now the UK, we’re continuing our ambitious agenda to pursue more market opportunities for Australian farmers and exporters,” Mr Pasin said.

The UK is Australia’s seventh-largest trading partner. It’s also our second-largest source of and destination for investment, with over AUD 1.1 trillion already invested across our two economies, and our third largest partner for trade in services.

The first round of negotiations will be conducted virtually, commencing on 29 June.

Further information on the Australia-UK FTA can be found at: www.dfat.gov.au/trade/agreements/ negotiations/aukfta