LONDON – The U.K.’s bilateral trade deals with Australia and New Zealand will come into force this month, with British Prime Minister Rishi Sunak set to meet the leaders of both nations tomorrow in London.
Both deals will be implemented from May 31, with all tariffs on U.K. goods exports set to be dropped by Australia and New Zealand.
Australian Prime Minister Anthony Albanese insisted Thursday that the U.K.-Australia agreement was a “good thing for both countries,” despite previous concerns by Sunak about the impact of the deal on British farmers.
British farming unions have rallied against the deals as they will eventually give Australian and New Zealand producers of products like sheep and beef unfettered access to the British market.
Previous U.K. government estimates suggested Britain’s food and farming sectors will suffer due to the Australia and New Zealand trade deals, while Sunak said in the Tory leadership contest last year that the agreements were “one-sided” against the U.K.
Albanese told reporters in London that “I have a good relationship with Prime Minister Sunak … and he’s very supportive of the agreement going forward.”
He added that the deal is “one of the best free trade agreements Australia has done.”
Sunak said in a release today that “these landmark deals squarely deliver on my priorities to drive economic growth, boost innovation and increase highly skilled jobs across the UK.”
Some British critics of the deals, including former Environment Secretary George Eustice, have said the U.K. gave away too much in negotiations with both countries without getting much in return.
British services providers, which make up 80 percent of the economy, already had wide-ranging access to both countries before the deal.
