free trade agreement

FTA between UK and Australia entered into force on 31.05.2023

According to the press release of the Austrialian department of Trade and Tourism the FTA between UK and Australia entered into force on 31.05.2023.

This press release states that: “…As of today, over 99 per cent of Australian products will enter the UK duty free. These include some of our key exports, such as wine, short and medium . UK tariffs on Australian industrial goods, such as auto parts, electrical equipment and fashion items are now eliminated. Australian agricultural products, including beef and sheep meat, sugar and dairy products, will have duty free transitional quotas, with eventual elimination of all tariffs. For Australian consumers, tariffs on 98 per cent of UK imports to Australia are now eliminated, with the remainder removed within six years. The agreement strengthens our people-to-people links with the UK. Australian professionals now have the same access to the UK job market as nationals from the European Union, except the Republic of Ireland. The agreement also includes measures designed to improve the mobility of skilled workers and young people, in both directions. From 31 January 2024, Australians up to the age of 35, up from 30, will be able to apply for working holidays in the UK and stay for a maximum of three years instead of two. Trade is more than just the exchange of products and services, it also boosts the exchange of ideas. Which is why our new trade agreement lays the foundation for Australian artists, including First Nations artists, receive royalties when their original works of art are resold in the UK…”.