LONDON
The UK’s post-Brexit free trade agreements with Australia and New Zealand will enter into force at the end of May.
“Expected to increase bilateral trade with Australia by 53% and with New Zealand by 59% in the long term, the two game-changing free trade agreements are anticipated to go live across all three countries from midnight on 31 May,” a government statement said.
The UK Prime Minister is scheduled to hold talks with his counterparts from Australia and New Zealand in Downing Street before King Charles III’s coronation on Friday.
“Both trade deals will drive economic growth and innovation across the UK, Australia and New Zealand through the removal of tariffs on all UK goods exports, open unprecedented access for services, cutting of red tape for digital trade, and by making it easier for UK professionals to live and work in Australia and New Zealand, ” the statement said.
UK’s Prime Minister Rishi Sunak said: “As some of our closest allies, and greatest friends, I am delighted our first built from scratch trade deals are with Australia and New Zealand.”
“These landmark deals squarely deliver on my priorities to drive economic growth, boost innovation and increase highly skilled jobs across the UK, ensuring we and our closest friends continue to prosper for generations to come,” Sunak added.
