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UK-Australia FTA: Impact Assessment

The Department for International Trade has negotiated a free trade agreement (FTA) between the United Kingdom and Australia. So, what’s the projected impact of this agreement?




What’s the aim of the agreement?

 

  • To enhance the historic trading and investment relationship between the UK and Australia.

  • To build upon long-lasting economic and cultural links.

  • To create long-term economic benefits for both nations, support UK jobs and provide opportunities for growth in sectors all around the UK.

 

 

Which areas will it impact?

The agreement aims to forge stronger ties between the UK and Australia. It could help to increase collaboration in areas including:

  • services trade

  • intellectual property (IP)

  • animal welfare

  • trade for development

  • women’s economic empowerment

  • the environment

 

What's the impact of the agreement?

 

Economic assessment of the impact of the Free Trade Agreement is very positive. The assessment projects UK exports to Australia to be £6.2billion a year higher in 2035 than they were in 2021, as a direct result of the implementation of the FTA.

 

In the long term, the FTA is expected to result in UK exports to Australia being £6.2bn a year higher than they otherwise would have been.



 


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