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The UK’s bilateral trade agreements with Australia and New Zealand are coming into force at the end of May.
The government anticipates that the first new trade agreements negotiated from scratch since leaving the EU will go live from midnight on 31st May.
The UK exports almost £10 billion annually to Australia in goods and services and £1.5 billion to New Zealand. The government estimates the new agreement will boost trade by over 50% in the long run.
The new agreements will give tariff-free access to all UK products that meet the flexible origin rules and remove virtually all tariffs on goods imported from either country. The agreements present valuable opportunities to British exporters with high disposable incomes and strong historical and cultural links to the UK.
Detailed information, including procedures and origin rules, will be available soon.
While you are here you may be interested in some Strong & Herd LLP training courses & live clinics related to this topic:
Understanding Origin & Preference
Understanding Free Trade Agreements
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