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UK agrees post-Brexit trade deal with Australia - CNBC

UK agrees post-Brexit trade deal with Australia - CNBC

UK agrees post-Brexit trade deal with Australia - CNBC
Jun 15, 2021 56 secs

The free trade agreement means it will cost less for British businesses to sell products like cars, confectionery and Scotch whisky into Australia, the U.K.

The deal was flagged late Monday when Australia's minister for trade said Johnson and his Australian counterpart Scott Morrison had agreed the broad terms of the agreement over dinner in Downing Street in London.

Australia's prime minister said Tuesday that "reinforcing our trade relationship is a great opportunity.".

The free trade deal with Australia is the first major agreement negotiated from scratch by the government since the U.K.

The government said the trade deal with Australia "is also a gateway into the fast-growing Indo-Pacific region and will boost our bid to join CPTPP, one of the largest free trade areas in the world, covering £9 trillion of GDP and 11 Pacific nations from Australia to Mexico.".

Trade is expected to grow under the deal, the government said, adding that it will also offer more opportunities to young people (Brits under age 35 will be able to travel and work in Australia more freely following the agreement)

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