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UK FTA offers Australia political not economic boost

Tuesday, July 13, 2021

Significance

Reaching an agreement with the UK government will support Australia’s efforts to secure new markets for goods affected by political tensions with China, but early benefits once the FTA is signed are likely to be limited.

Impacts

  • The Liberal Party’s coalition partner may demand changes if it sees the FTA as failing to protect rural interests.
  • Pending regulatory clauses, including tough UK standards on data protection, could create tensions in final negotiations.
  • The FTA will allow ships flagged in the United Kingdom or Australia to provide feeder services between the respective ports.

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