The recent entry into force of the Australia-United Kingdom Free Trade Agreement is an important milestone in the historic relationship between Australia and the United Kingdom. This relationship has historically been underpinned by strong cultural, institutional and people to people links. Entry into force of the Australia-United Kingdom Free Trade Agreement presents a gold standard agreement which further strengthens the investment and trading relationship betwen our jurisdictions.
The benefits of the Free Trade Agreement are wide reaching, with tariffs eliminated on over 99 percent of Australian goods exports to the UK. In addition, there are a number of benefits realised for services companies and professionals, including mobility provisions which will make it easier for people movement and intra-company transfers. Mobility of young professionals will also be enhanced through changes to the working holiday visa provisions. Other provisions include environmental commitments, as both nations progress activities towards a net zero future, as well as commitments to innovation.
On the ground, there has been several events to celebrate entry into force of the FTA showcasing some of the outstanding premium products that will benefit from entry into force of the FTA.
On Thursday 8 June, the High Commissioner of Australia to the United Kingdom hosted a reception showcasing businesses and product which stands to benefit from entry into force of the Free Trade Agreement. Plated up at the event was Western Australia’s very own; Fremantle Octopus, Geraldton Fishermen’s Cooperative Crayfish and Glacier 51 from Austral Fisheries. In addition, Cape Mentelle’s wines were on display alongside their tasting notes.
Western Australia’s premium produce was again on show in London on 26 June when Mrs Rhinehart AO hosted an event at the Meat & Wine Co to showcase Hancock Agriculture 2GR Wagyu and Kidman Premium beef. The event was organised by Meat & Livestock Australia as a means of celebrating entry into force of the Free Trade Agreement and presented some delicious beef to attendees.
There is certainly much to celebrate as we reach entry into force of the Free Trade Agreement, which along with the New Zealand- United Kingdom Free Trade Agreement, is the most ambitious Free Trade Agreement negotiated with the United Kingdom to date. For any Western Australian companies seeking to leverage opportunities under the FTA, or British companies looking to maximise opportunities made available through the FTA, the WA Government Office in London stands ready to support you and we encourage you to make contact.