UK and Australia Will Sign A Trade Agreement

UK and Australia will sign a trade agreement. The two sides reported that they agreed on the new agreement.

In a statement made by the British Prime Ministry, it was stated that Prime Minister Boris Johnson and Australian Prime Minister Scott Morrison decided to sign a new trade agreement between the two countries. In the statement, it was noted that within the framework of the agreement, products such as automobiles, biscuits and ceramics can be exported from England to Australia at much cheaper costs. It was stated that the agreement, whose details were not disclosed, will provide especially British and Australian food manufacturers with easier and cheaper access to both markets.

"A New Dawn..."

In his speech on the deal, British Prime Minister Johnson said, "Today marks a new dawn in the UK's relationship with Australia, supported by our shared history and shared values." Johnson continued: "Our new free trade agreement offers great opportunities for British businesses and consumers as well as young people who want a chance to work and live on the other side of the world." Experts described the comprehensive trade agreement between the two countries as the first step for the UK to pursue greater commercial cooperation in the Asia-Pacific region. With this agreement, concerns that especially food producers in England could lose their competitiveness with Australian producers began to be discussed. As an example, in the statement of the British National Farmers' Association (NFU), it was shown that Australian meat producers are able to produce at lower costs compared to British producers, which can negatively affect producers in the UK. The total volume of product and service trade between the two countries since 2020 has been recorded as £20.1 billion.