Australia has trade agreements with the EU, but there is no comprehensive free trade agreement yet; It has been negotiating with the EU since July 2018. What is the level of trade between the EU and Australia in relation to trade between Britain and the EU? „If they mimic our current access to Europe, it`s a fairly broken and limited access, so it`s an interesting access they`d like to copy,“ Andrew McDonald, director of NH Foods Australia, a Japanese beef producer based in Sydney with three processing plants in eastern Australia, told Reuters. For Australia, favourable conditions with the EU are probably less at stake than for Britain. SYDNEY (Reuters) – As the UK`s post-Brexit trade deal talks with the European Union falter, Prime Minister Boris Johnson says his country could trade with the bloc on terms similar to Australia`s if no deal is reached. When talks ended this year, Mr Johnson said Britain could also live with an agreement on the model of Australia. Given that Australia does not have a free trade agreement with the EU, domestic policy critics argue that this phrase is simply an understatement for a non-agreement. The first is a fixed amount with a 20% fee, and the second is duty-free, but it is shared with other countries on the basis of First-come First-served. Australia is negotiating with the European Union (EU) an ambitious and comprehensive free trade agreement that will lead to increased investment, Australian exports of goods and services, economic growth and job creation. That`s why Australian exporters are backing Canberra`s move to conclude a new free trade agreement with Brussels so they have the security they need to invest and plan.
On the other hand, as has already been mentioned, Australia has a number of agreements on a number of issues and is seeking a free trade agreement with the EU to improve WTO conditions. In the UK, in 2018, the EU accounted for 52% of its trade in goods and 44% of trade in services. Trade between the UK and the EU is almost six times higher in value than Australia`s trade with the EU, or $660 billion in 2018. The only bilateral agreement between the UK and the EU would be the withdrawal agreement reached by Boris Johnson in October 2019. In the end, the UK`s trade conditions in the absence of an agreement would be similar to Australia`s, but the broader relationship would not be. The EU and Australia have concluded negotiations for a political framework agreement with a number of economic and trade cooperation agreements. Susan Guscott Adviser, Support Program, FTA Program Austrade E: firstname.lastname@example.org But what is the EU trade agreement with Australia? And if there is no agreement between the UK and the EU, would they act on terms similar to Australia`s? This explainer answers these and other important questions. The concept of Australian-style Brexit was used in Prime Minister Boris Johnson`s speech in Greenwich in February 2020.
In his speech, Mr Johnson said: „The election is not explicitly `an agreement or an agreement` … The question is whether we have a trade relationship with the EU comparable to Canada`s, or rather Australia`s. More information on EU-Australia trade negotiations The EU is an important trading partner for both Australia and the UK. However, their trade with the EU is not comparable in terms of total size or the main goods traded.