Australia should be looking to develop and strengthen trade with the UK now that ‘Brexit’ is really happening. Our government should be encouraging businesses to establish or strengthen their links, realising that the UK’s relationship to the EU will be different.
When Britain entered the ‘Common Market’ as it was formerly known, the UK was compelled to focus its trade within Europe. Consequently, substantial trade with Australia was cut.
Total trade with Australia has been increasing in recent years and is now running at approximately $18 billion pa. which is substantial. The UK is our 8th largest trading partner. As the UK will be free from trade obligations to the EU after a transition period, their government has already signalled an intention to negotiate a free trade agreement with several countries. Australia is one of them.
We are well placed to negotiate on a broad range of trade, technology and investment relationships.
Clive Jackson, Democrats