British Prime Minister Boris Johnson (R) elbow-bumps a greeting with Australian Prime Minister Scott Morrison (L) in the doorway of 10 Downing Street in London, United Kingdom on June 14, 2021.
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The U.K. has agreed a free trade deal with Australia.
The deal — a Free Trade Agreement or FTA — means it will cost less for British businesses to sell products like cars, Scotch whisky and confectionery into Australia, the U.K. government said Tuesday.
The move will boost U.K. industries that employ 3.5 million people across the country, it added.
“Today marks a new dawn in the UK’s relationship with Australia, underpinned by our shared history and common values,” the government said in a statement.
“Our new free-trade agreement opens fantastic opportunities for British businesses and consumers, as well as young people wanting the chance to work and live on the other side of the world.”
The deal was flagged late Monday when Australia’s minister for trade said U.K. Prime Minister Boris Johnson and his Australian counterpart Scott Morrison had agreed the broad terms of the agreement over dinner in Downing Street in London.
The U.K. is keen to strike trade deals with nations around the world following its departure from the EU, but the deal is not without controversy. British farmers, for example, have expressed concerns that they could be undercut by cheap Australian agricultural imports and about Australian food standards.
This is a breaking news story, please check back for further updates.