Australian companies set to benefit from recent UK free trade agreement

Industry sources claim that Australian food and beverage companies are set to benefit from the recent UK free trade agreement (FTA), as the deal will remove more than 99 per cent of tariffs on goods being exported to the UK over the next 10 years. The FTA will cover approximately 75 per cent of trade, opening up preferential access to almost 3 billion customers. 

Minister for Trade, Tourism and Investment Dan Tehan signed the agreement on behalf of Australia during a virtual ceremony with the UK Secretary of State for International trade Anne-Marie Trevelyan.

Most tariffs on fruits and vegetables will immediately be eliminated, including nuts, avocados, cherries, dried fruits, citrus, carrots, and table grapes. Tariffs on apricots, nectarines, peaches, strawberries, asparagus, beans, tomatoes, apples, and pears will be eliminated over three years. Remaining product tariffs will be eliminated over seven years.


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