The Australia-United Kingdom Free Trade Agreement (A-UKFTA), was signed on the 17th of December 2021. The deal will eliminate tariffs on a wide variety of goods and services and should allow businesses in both countries to expand their trade.
The UK is Australia’s seventh-largest trading partner. Under the agreement, tariffs will be immediately eliminated on 99 percent of Australian exports to the UK. This includes goods such as wine, beef, lamb, and sugar. Tariffs on cars and parts will be eliminated after five years, while tariffs on whisky will be phased out over 10 years. In exchange, the UK will gain greater access to the Australian market, particularly in the areas of professional services, financial services, and education.
For more information on how this may affect your future shipments, you can visit the Department of Foreign Affairs & Trade website, or contact one of our friendly staff.
