Britain’s first post-Brexit free trade agreements come into force today
The UK’s first post-Brexit free trade agreements come into force today.
Free trade agreements with Australia and New Zealand will enter into force from tonight, according to the British government statement.
Within the scope of the deals, which is the UK’s first post-Brexit free trade deal, customs duties on all exports of goods to those countries will be removed.
The deals are expected to increase digital commerce between countries, while also creating more competitive prices for UK consumers.
With the free trade agreements, the UK’s bilateral trade with Australia is expected to increase by 53 percent and with New Zealand by 59 percent.
Kemi Badenoch, UK Secretary of State for International Trade, noted that “today is a historic moment” and that businesses across the country will benefit from these opportunities and that the agreements will contribute to economic growth. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
