UK: Parliament passes Australia-UK free trade agreement legislation
UK's first new trade deal signed since Brexit
UK's first new trade deal signed since Brexit
The UK Parliament announced that legislation to ratify the Australia-UK free trade agreement will be receiving Royal Assent.
According to Australia’s Minister for Trade and Tourism release, the Australia-UK free trade agreement represents the UK's first new trade deal signed since Brexit and will remove tariffs on over 99% of Australian goods exported to the UK annually.
In addition, the trade agreement will enable Australian professionals to gain access to the UK jobs market on par with nationals of the European Union, with more opportunities for intra-company transfers and for working holiday makers.
The Australia-UK free trade agreement will enter into force after UK processes are complete and Australia and the UK exchange diplomatic notes identifying a commencement date.
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