The Australia-UK Free Trade Agreement (FTA) will take effect on May 31, 2023, after negotiations that began in mid-2020 and concluded in December 2021. The FTA covers 32 chapters and includes trade and regulatory issues, as well as gender equality and environmental concerns. The agreement eliminates tariffs for 99% of goods exported from Australia to the UK, with some agricultural sectors subject to reduced tariffs until year 15 of the agreement. British exporters will enjoy immediate reductions for 98% of tariff lines, increasing to 100% by year 6 of the FTA. The FTA also offers flexible rules of origin, trade and customs facilitation measures, and provisions for digital and services trade.
Source Sally Jones
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