Britain's next free trade deal set to be with Australia - City AM
Reuters
Published Jan 27, 2021 19:01
Updated Jan 27, 2021 20:15
(Reuters) - The United Kingdom's next free trade agreement is set to be with Australia, in a deal that could be completed as soon as March, the City AM newspaper reported on Wednesday.
The next round of UK-Australia talks are due early next month, the newspaper reported https:// citing a source close to Britain's International Trade Secretary Liz Truss.
The source told the newspaper that the Australian talks were likely to conclude before New Zealand and U.S. negotiations, which are also ongoing.
The deal with Australia will extend free mobile roaming for Britons travelling to Australia and open up the country's market to UK telecommunications companies, the newspaper said, adding that the agreement will also slash tariffs on agricultural products going in both directions.
The United Kingdom is also asking Australia for tariffs to be dropped for some UK manufacturing sectors such as pottery makers, the report said.
Britain's Department for International Trade did not respond to a request for comment.
Last month, Truss told Reuters that Britain's trade talks with Australia were advancing well.
"We've exchanged initial tariff offers and held detailed technical discussions on areas such as investment, professional business services and financial services," she said in December.
A deal with Australia is seen as an important step on the way to joining a wider free trade agreement known as the Comprehensive and Progressive (NYSE:PGR) Agreement for Trans-Pacific Partnership (CPTPP).
Trade with Australia in goods and services totalled 18.5 billion pounds ($25.37 billion) in 2019.
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Written By: Reuters
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