A free trade agreement between Australia and the UK will build on existing strengths in mutual trade and investment and contribute to the post-COVID economic recovery in both countries. The free trade agreement will make it easier for businesses to export, increase trade and create new opportunities for Australian businesses. Overall, respondents from all groups expressed similar labour and environmental priorities and concerns and stressed the importance of maintaining the UK`s high labour and environmental standards. One of the recurring concerns has been the impact of trade with Australia on climate change and global carbon emissions due to the geographical distance between Britain and Australia. Respondents also said that priority should be given to the free movement of skilled workers between the UK and Australia and to ensuring the absence of MRPQ. However, in a typical free trade agreement, these are included in the services chapter, which has allowed relevant comments to be made. In this section, respondents also took a position on human rights, public health and quality of life; As these are social aspects of a free trade agreement, comments have been made in the « Other Issues » section of this document. In this section, respondents also spoke about standards that go beyond work and the environment. These comments have been taken into account in the « Standards » section of this document.
Public consultation on a bilateral free trade agreement between the United Kingdom and Australia (DIT, July 2018) ↩ The results of the comprehensive approach can be interpreted as an estimate of the long-term economic impact of the free trade agreement relative to a baseline, with the long-term duration generally being around 15 years from the implementation of the agreement. The government is determined to establish a new economic relationship with the European Union. One where the UK is leaving the internal market and customs union to exploit new trade opportunities around the world, while protecting jobs, supporting growth and maintaining security cooperation. We are aware that our future economic partnership with the European Union will have a significant and immediate impact on how the UK can develop its future trade policy in view of its trade agreements with the rest of the world. We will continue to listen to and respond to the views of our stakeholders on this issue, while developing our own independent trade policy in parallel with the direction of future negotiations on relations with the European Union. While there is a strong trade and investment relationship between the UK and Australia, evidence of barriers to trade and investment between the two countries indicates that there is room for manoeuvre to further improve this relationship. Australia has relatively low tariffs on all commodities and has further reduced them under bilateral and regional trade agreements. In the services sector, Australia has made a strong commitment under its free trade agreements to further liberalization than under its World Trade Organization (WTO) commitments. As a result, UK exporters face higher trade barriers in the Australian market than exporters based in these countries. On the investment side, Australia has included investments under free trade agreements, such as those signed with the United States, South Korea, Japan and China. This means that BRITISH companies wishing to invest in the Australian market may have to meet stricter conditions than investors from countries that have free trade agreements with Australia.
The trade and distraction effects arising from free trade agreements mean that the trade structure of the United Kingdom and each partner is influenced both by the nature of the individual agreement between the United Kingdom and the partner country and by any agreements concluded between one of the parties and other countries. This means that, in general, the combined effects of trade agreements cannot be accurately accounted for, simply by adding up the individual effects of each agreement. . . .