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Australia-United Kingdom Free Trade Agreement

Australia-United Kingdom Free Trade Agreement

Australia and the United Kingdom of Great Britain and Northern Ireland (UK) launched negotiations for a free trade agreement (FTA) on 17 June 2020. The public launch of negotiations was preceded by a video teleconference between Minister for Trade, Tourism and Investment, Senator the Hon Simon Birmingham, and his UK counterpart, Secretary of State for International Trade, Liz Truss on 15 June 2020.

Minister Birmingham and Secretary of State Truss speaking on the launch of the Australia-UK FTA

The Department of Foreign Affairs and Trade (DFAT) welcomes submissions throughout the negotiations from interested individuals and groups on the potential opportunities and impacts of an FTA with the UK. Individuals, organisations and groups that make submissions are registered as stakeholders by DFAT for further consultation and follow up, as appropriate. See our Submissions page for more information.

Objectives

Australia is seeking an ambitious and comprehensive FTA with the UK that drives increased trade in goods and services, two-way investment, economic growth and job creation. An FTA with the UK also signals our shared commitment to open markets, free trade and the rules-based global trading system.

Why is the Government negotiating an FTA with the UK?

The UK is one of Australia’s most enduring partners. We have a shared commitment to the rule of law and to an open and rules-based international trading system. Our common heritage, values and strategic interests mean that we work closely together across a wide range of international issues. See our United Kingdom webpage for more information on the Australia-UK bilateral relationship.

In 2018-19, two-way goods and services trade between Australia and the UK was valued at $30.3 billion, making the UK Australia’s seventh-largest trading partner. The UK is also Australia’s third-largest services trading partner, and our second-largest source of foreign investment.

An FTA with the UK has the potential to deepen our trade and investment relationship for the benefit of Australian businesses and consumers. It will also provide an important signal of our shared commitment to global trade liberalisation, and will play an important role in our post-COVID economic recovery.

More details on the benefits of an Australia-UK FTA.

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