30/3/2023

Expected to come into force in 2023

Australia and the United Kingdom (UK) signed the Australia-UK Free Trade Agreement (A-UK FTA) on the 17th December 2021. 

Highlights of the FTA -  

Outcomes of the agreement include:  

• removing tariffs on:
  • Australian wine
  • short and medium-grain rice
  • honey
  • nuts
  • olive oil
  • most seafood
  • most fruits and vegetables
  • most processed foods. 
• Duty-free transitional quotas and removal of tariffs after 8 to 10 years on:improved digital trade, including new rules around free flow of data, localisation commitments, and electronic contracts 
  • beef 
  • sheep meat 
  • sugar and dairy. 
• increased market access for financial services 
• guaranteed right to bid for a wide range of UK government goods, services, and construction contracts
• extension of the working holiday arrangement to 3 years for people aged 18 to 35 working in Australia and the UK 
• new visa provisions to enable intra-corporate transfers and a new visa pathway to Australia for innovators from the UK
• two-way royalty arrangements for eligible artist resales.

   

  Should you have any further questions or require more information, please do not hesitate to contact a member of our brokerage team for guidance

   

  Keeping you updated

   

  BRi Customs Team 

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