UK-Australia Free Trade Agreement (UK-FTA) expected to boost trade with Australia by 53%
3 minutes to read
Looking to ship down under? Wine and whisky manufacturers, wind power technology firms and luxury car suppliers are among the winners of a new trade agreement taking effect 31st May.
We, like many businesses across the UK, are celebrating the signing of the UK-Australia Free Trade Agreement (UK-FTA), which will open up exciting new opportunities for importers and exporters.
Set to come into force on 31st May this year, the deal is the first to be negotiated from the ground up since the UK left the EU.
Benefits of UK-FTA for importers & exporters
Businesses across the UK are able to take advantage of the lifting of tariffs on 99% of Australian goods exports, creating exciting new opportunities in the UK for both importers and exporters.
The removal of tariffs, plus streamlined customs clearance and minimised red tape, should make it easier and cheaper for all sectors of the UK economy to import products from Australia – for example, those manufacturers that require components from Australia, and complete assembly here in the UK.
Businesses in every region and nation of the UK are winners of this agreement, including:
- Food & drink: Tariffs on goods such as whisky, gin and wine will now be completely removed, making shipping alcohol goods ‘down under’ a far more palatable option.
- Manufacturing & renewables: this deal lends a hand to the UK’s many manufacturing and technology businesses, who can now export their world leading products in automation, renewables and tech to a whole new market. Those producing wind turbine blades and wind powered generators are among the list of businesses that will benefit from the lifting of the 5% tariff. Learn how Hemisphere can help you manage your Energy & Renewables logistics.
- Automotive: Since Australia ceased car production on home soil, all cars sold in Australia are imported. The UK-FTA will only increase opportunities in the UK, particularly those in the luxury end of the automotive market where it holds global appeal. Learn about Hemisphere’s support for the Automotive industry.
- Infrastructure: UK companies are now legally able to bid for Australian government contracts to the tune of around £10 billion per year. This includes rail, road and freight, creating huge opportunities for those in the UK transportation industry.
Source: UK-Australia Free Trade Agreement: benefits for the UK
Why choose Hemisphere to move your goods to Australia?
Since formation in 1989, Hemisphere has offered services to and from Australia. We have developed weekly LCL and AIR consolidation services as well as access to all
major FCL carriers.
SEA FREIGHT LCL & FCL
- We pack our own LCL consolidation containers
- Container packing at our Ipswich warehouse
- Trucking from anywhere in the UK
- Dedicated team for all Australia bound cargo
- Break bulk and RORO services also available
- London Heathrow office and warehouse
- Two airfreight departures per week to all capital cities
- Premium and economy services available
Shipping to and from Australia? Call us today.
If you have any more questions about how we can help your business maximise the UK-Australia Free Trade Agreement, please get in touch.