The UK’s Department for International Trade (DIT) has confirmed that round two of the UK-Australia Free Trade Agreement (FTA) negotiations took place between Monday 21 September 2020 and Friday 2 October 2020.
The UK continues to signal its ambition to negotiate a deal with Australia that allows for increased bilateral trade and set high standards for future FTAs. The FTA stands to support global trade and nothing less than the countries’ mutual economic recovery post-COVID-19.
The wide-ranging agreement aims to deliver substantive outcomes in the form of better jobs, higher wages, and lower prices just when they are needed most. You can read in more detail about the UK’s approach to the UK-Australia FTA here.
For its part, the Australian High Commission in the UK has launched a new website (see here) showcasing the opportunities and potential benefits of the FTA for both private and public sector organisations.
The Governments of both countries are clearly committed to concluding a comprehensive agreement and we look forward to learning of their further progress in the next round of negotiations.
Kepdowrie Chambers has assisted hundreds of UK-based companies with their “homework” and due diligence into the Australian market, including setting up and expanding their businesses in Australia. In particular, we have noted that expressions of interest in the Australian market have grown steadily ever since the 2016 EU Referendum and exponentially since Brexit, so please get in touch if you’d like to have a discussion about Brexporting to, or Brexpanding in, Australia. We’re here to make sure that the learning-curve is not a challenge and you can quickly get on with the more important task of winning new customers.