This is Australia’s 15th free trade agreement and the first the UK has guaranteed since leaving the European Union.
Tehan said British Prime Minister Boris Johnson and his Australian counterpart Scott Morrison reached an agreement during their talks in London.
“The two prime ministers held a positive meeting in London last night and were able to settle the outstanding issues,” he added.
“The agreement is a victory for jobs, businesses and free trade and highlights what two liberal democracies can achieve when they work together,” he said.
He announced that both Prime Ministers will be making a formal announcement this morning in London and will release more information.
The agreement is Australia’s fifteenth free trade agreement.
The deal was good news for both the UK and Australia, said Gabriel Sadir, an international business expert at RMIT University.
“It is great news for the UK (…) in particular because this is the first post-Brexit deal that was actually built from scratch, traded from scratch and, moreover, negotiated in just one year’s record time. “It is very important,” Sadir said, “unfamiliar with FTA negotiations.”
The United Kingdom is Australia’s fifth largest trading partner. Suder said he hopes the deal will add A$1.3 billion (€825 million) annually to the Australian economy.
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