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Australia Confirms Trade Deal To Be Signed With UK

Australia’s Trade and Investment Minister, Steven Ciobo, has confirmed that a comprehensive trade deal between the UK and Australia will be ready “the day after Brexit”.

Minister for Trade, Steven Ciobo, has confirmed post-Brexit trading arrangements with the UK

Written by James Skinner

James is the founder & chief executive of CANZUK International in Vancouver, Canada

            

Mr. Ciobo met with his UK counterpart, Liam Fox, this week where talks began on a free trade deal between the two countries after Brexit.

Speaking to Bloomberg News after the meeting, Mr. Ciobo said that the meeting was “very good” and claimed a trade deal would come into force the day after the Brexit transition ends.

He also encouraged the UK to choose free trade over protectionism as it shapes its trade policy outside the European Union, emphasising that Australia should play a big role in the UK’s economic progress as Brexit opens up global free trade opportunities.

“We share big ambitions on what the UK and Australia can do on global trade”, he said. “We haven’t done the agreement yet. It is hopefully not too long. It is very aspirational in terms of the quality of the deal.

“We would like to commence negotiations at the start of the interim period, with a view to concluding it during the interim period and have it come into force on the 1st January 2021.”

The Australian Trade Minister also stated that Brexit would enable the UK to do business as a “sovereign, open and free” nation, and negotiations between the two countries should commence as soon as possible ahead of the UK’s departure from the European Union.


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“I believe that Australia and the UK should prepare now, with a sense of urgency, to negotiate as soon as possible a high quality and ambitious trade agreement of our own. So bring on prosperous, free-trading, global Britain.”

Mr. Ciobo’s confirmation of free trading arrangements between Australia and the UK also tie in with an earlier visit to London by Foreign Affairs Minister, Julie Bishop, who stated that Australia would seek to establish reciprocal working rights for Australians in the UK as part of any dynamic trade deal between the two countries.

      
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