January 21, 2022

Beyond Going Long

Complete UK News World

Britain has signed a free trade agreement with Australia

Britain has signed a free trade agreement with Australia

The agreement is set to boost British-Australian trade by 10.4 billion and abolish export taxes to Australia.

Bratislava. The UK has signed a free trade agreement with Australia, which it says will benefit consumers and businesses.

Britain called the agreement the first completely redesigned treaty since Brexit, and it was not a continuation of the trade conditions between Australia and Britain when the United Kingdom was a member of the European Union. The portal reports about it BBC.com.

The UK government estimates the deal will boost British-Australian trade by 10.4 billion, while eliminating taxes on all British exports to Australia.

According to the British government, the agreement is the gateway to the fast-growing Indo-Pacific region and will support the British initiative to comply with the Transparency Partnership Agreement (TPP), one of the largest free trade zones in the world. .

Australia also welcomed the end of the agreement. “It simply came to our notice then. This is a real free trade agreement. All winners, ”said Australian Trade Minister Dan Dehan.

The agreement, which goes into effect next year, will repeal 99 per cent of Australia’s exports to the UK market, making it easier for Australians to stay and work in the UK.

See also  Britain records nearly 50,000 new infections and 63 deaths a day