‘Gold standard’ trade deal with Australia is possible, says Truss
LIZ TRUSS will this week set out her ambition for a “gold standard” trade deal with Australia which would wipe out tariffs on spirits, clothing and cars, as the Government prepares to step up talks next month.
The International Trade Secretary will tell MPs that British officials are intensifying talks as they push for a wideranging agreement which includes financial services, telecommunications, technology, food and drink.
The Government also hopes to make it easier for professionals to travel and work in Australia, with politicians in Canberra calling for the two sides to agree to freedom of movement in any post-Brexit deal.
Last night a Whitehall source said both sides were optimistic a trade deal can be struck before the end of the year, with Britain also hoping to conclude a deal with Japan under the same time frame.
With the second round of negotiations due to commence in the fourth week of September, Ms Truss will hail a trade deal with Australia as a “critical step” to fulfilling Britain’s ambition of joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
The trade bloc, comprising 11 nations including Japan, Canada and Australia, accounts for 13 per cent of global commerce, with 95 per cent of goods trade between members tariff-free.
Last night Ms Truss said: “We want a gold standard deal with Australia that pushes new frontiers in trade and delivers for the whole country.”