This is a first since Brexit. The United Kingdom on Thursday signed the post-Brexit free trade agreement with Australia, a compromise that should open the doors to the Asia-Pacific region, but criticized for uncertain benefit and its environmental impact. The “historic” deal ratified in a virtual ceremony was the subject of an agreement in principle in June between British Prime Minister Boris Johnson and his Australian counterpart Scott Morrison and “negotiators have now finalized all chapters” trade compromise, according to a press release from the Ministry of International Trade.
It is the first agreement obtained by London since its exit from the European Union, effective since January 1, not to be simply a renewal or an adaptation of those which exist between the EU and other countries.
The text, which will now be submitted to parliamentarians for consideration at Westminster, is to generate “10.4 billion pounds of additional trade (…) by eliminating tariffs on 100% of [leurs] exports ”. It sets “new global standards in digital and services, will create new work and travel opportunities for Britons and Australians”, underlines the British government.
Greenpeace denounces the impact on the climate
According to the press release from the Department for International Trade, the text is “tailor-made for the British economy” especially in areas where the country is “a world leader, such as technology and digital, with increased access to Australia for the motor sector of British services ”.
British professionals in the service sector, in particular architects, lawyers or researchers, will have access to work visas in Australia: “this is more than Australia has ever offered to another country in a free trade agreement” , welcomes the Ministry of International Trade.
Boris Johnson had called for leaving the EU by promising that the UK would have more economic potential going it alone, touting his concept of “Global Britain”, or “Planetary Britain”.
The NGO Greenpeace for its part deplored an agreement “with not only one of the worst impacts on the climate, but with a country which is one of the main world centers of deforestation”, which goes against the UK carbon neutrality targets for 2050.