The United Kingdom and Australia announced a new trade deal on Tuesday, the first such agreement the UK has negotiated from scratch since it left the European Union.
The pact, which will eliminate tariffs and red tape, was hailed by British Prime Minister Boris Johnson as “a new dawn” in the two countries’ relations.
Johnson’s Conservative Party government views the deal as an important element of its post-Brexit strategy to shift the country’s economic centre away from Europe and seek out fresh opportunities in higher-growth Indo-Pacific nations.
Earlier deals with other countries, including Japan, were built on existing agreements struck by the 27-member bloc.
Australian Prime Minister Scott Morrison and Johnson overcame sticking points during talks after the G7 meetings in the UK, which Morrison attended as a guest.
The UK said the deal will mean products such as cars, Scotch whisky, biscuits and ceramics will be cheaper to sell to Australia, a former British colony.
Credit: aljazeera.com
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