UK and Australia agree "vast majority" of trade deal – statement

© Reuters.

LONDON (Reuters) – Britain and Australia have agreed the vast majority of a free trade deal during talks in London this week and will look to reach full agreement in principle by June, a joint statement said on Friday.

“The UK and Australia have today reached consensus on the vast majority of elements of a comprehensive free trade agreement,” the statement said.

“Both countries are confident that the remaining issues will be resolved, and will now enter a sprint to agree the outstanding details with the aim of reaching agreement in principle by June.”

Britain is pursuing a deal with Australia as one of the pillars of its post-Brexit strategy to build stronger commercial and diplomatic links in the Indo-Pacific region. Official estimates say it could add 500 million pounds ($692 million) to British economic output over the long term.

British trade minister Liz Truss and her Australian counterpart Dan Tehan met in person for talks on Thursday and Friday.

“We have made major breakthroughs over the past few days and an agreement is now in sight,” Truss said. “I want to thank Dan personally for the contribution he has made and for his desire to get this deal done.”

($1 = 0.7221 pounds)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

READ  UK reports 15,166 new daily COVID cases

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Please enter your comment!
Please enter your name here