Africa Business Radio

The United Kingdom and Australia signed a free trade deal projected to eventually boost bilateral trade by more than 10 billion pounds eliminating tariffs, opening up sectors like agriculture and allowing freer movement for service-sector professionals. The elimination of tariffs on Australian wine, and a tariff-free quota for beef will help exporters hit by sanctions in China to pivot to sales in the UK. British cars, whiskey, confectionery and cosmetics will see tariffs phased out in Australia. Australia’s Prime Minister Scott Morrison and Trade Minister Dan Tehan in a joint statement said it is the most comprehensive and ambitious free trade agreement that Australia has concluded, other than with New Zealand.