Agricultural
2 June, 2022
Exporting local produce to the UK
Business leaders and local exporters were excited to hear from leading government representatives about the future of trade with United Kingdom at a breakfast briefing hosted by Toowoomba and Surat Basin Enterprise’s Southern Queensland Innovation in Export Hub (SQ Export Hub) recently.
Insights were shared at the briefing about Australia’s recently signed Free Trade Agreement (FTA) with the United Kingdom.
The Australia-UK FTA creates new export opportunities and jobs for business by eliminating tariffs on over 99 per cent of Australian goods exports to the UK.
This is commercially significant for around $9.2 billion worth of annual Australian merchandise trade into the UK.
TSBE Export Manager Justin Heaven said the A-UKFTA will smooth out customs procedures to boost efficiency, reduce costs and cut red tape.
“It is great news that this new trade agreement recognises the importance and challenges of establishing export markets abroad whilst eliminating tariffs and red tape that slows trade down,” Mr Heaven said.
“Agricultural producers will benefit by the removal of tariffs associated with beef, sheep meat, sugar, rice and dairy exports whilst promoting Australia’s quality of produce.”
There are major benefits for regional producers including beef producers who will have immediate access to a duty-free quota of 35,000 tonnes and for sheep producers there will be an immediate access to a duty-free quota of 25,000 tonnes.
For wheat, barley and other cereals producers there will be full elimination of tariffs over four years.
It will also make it simpler for traders and customs authorities to prove the originating status of goods and this includes reducing the amount of paperwork traders need to prepare at the border.
