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Great Britain and Australia agree on a free trade pact


So far, the British government has struggled with new post-Brexit trade deals. The first major trade deal has now been finalized - it is not yet clear what it is worth.

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Premier Johnson (right) with his Australian counterpart Morrison: Eighth most important trading partner

Photo: Dominic Lipinski / dpa

Great Britain and Australia have agreed on a free trade agreement.

Australian Trade Minister Dan Tehan said on Tuesday.

For Great Britain, after a few smaller agreements with Norway and Iceland, it will be the first real trade pact since leaving the EU.

The last stumbling blocks have been cleared out of the way in the past few days by the two Prime Ministers Scott Morrison and Boris Johnson.

They had negotiated with each other on the weekend after the meeting of the seven leading industrial nations (G7).

Morrison was a guest there; his country does not belong to the G7.

Great Britain is Australia's eighth most important trading partner.

Before the kingdom became part of the EU and thus the single market in 1973, it was even the most important for Australia.

However, the roles have changed a bit since then.

Great Britain, which is currently having to reposition itself after Brexit, does not really appear as the dominant actor on the stage.

But there are also worries on the island about the deal with Australia.

Farmers fear a flood of imports of lamb and beef as soon as customs duties cease to exist.

According to Australian data, the country's farmers will benefit from the agreement.

Details are not yet known.

Experts believe the deal will be more important for the UK.

Australia has a strong trade focus on Asia.

mik / Reuters

Source: spiegel

All business articles on 2021-06-17

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