Australian beef and sheep meat access to the United Kingdom is now set to be liberalised, with the signing of a free trade agreement between the two nations.
Minister for Trade, Tourism and Investment Dan Tehan and the UK Secretary of State for International Trade Anne-Marie Trevelyan have finalised the Australia-UK FTA agreed to in principle by Prime Ministers Morrison and Johnson in June.
Australia will now be better placed to help supply some of the UK's import requirement for high-quality beef, sheep meat and goat meat, red meat industry leaders said.
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"The inking of the FTA solidifies an already close partnership between the two countries," said Andrew McDonald, chair of the Australia-UK Red Meat Market Access Taskforce.
"Australia and the UK have a long history of trade, with the UK being a loyal purchaser of Australian beef and sheepmeat, albeit in small volumes.
"Under the A-UK FTA, future trade will be more streamlined, removing burdensome costs from the red meat supply chain that ultimately disadvantage British consumers and stifle opportunities for market development.
"The FTA also represents an opportunity for Australian and British exporters to further diversify their markets and demonstrates both countries commitment to rules-based, open trade."
The deal, once ratified, will result in Australian beef and sheep meat exports entering the UK under a tariff rate quota regime - with initial TRQ tonnages gradually increasing over a 10 year transition period. Product within the TRQ amounts will enter tariff free.
Whilst there will be no TRQ regime post year 10, a volume safeguard provision will apply until the end of year 15, beyond which no safeguards will apply.
