The International Trade Council (ITC) enthusiastically welcomes the entry into force of the UK's post-Brexit trade agreements with Australia and New Zealand. These treaties, while garnering diverse views, signify a significant move for the UK as an independent trading nation, as they represent the first deals to come into force following Britain's exit from the European Union.
While the ITC acknowledges the skepticism voiced by some, including the estimated minimal impact on Britain’s GDP growth (0.08% by 2035), we maintain the firm belief in the strategic importance of these agreements for opening new opportunities for businesses, encouraging innovation, and driving wage growth in the UK.
From today, UK goods exported to Australia and New Zealand will experience zero tariffs, and further access to these markets for services will be expanded. This move marks an important step in reducing red tape for digital trade and work visas, thus enabling a more fluid exchange between the countries.
The ITC celebrates this "historic moment," as termed by the business and trade secretary, Kemi Badenoch. UK businesses nationwide will have the opportunity to take full advantage of the new trade conditions, fostering economic growth and innovation.
As part of the festivities today, the international trade minister, Nigel Huddleston, will visit DHL’s southern distribution centre near Heathrow to oversee the dispatch of two consignments of British goods.
The ITC would like to express its support for these new agreements that are expected to yield benefits for UK businesses and the broader economy. We look forward to witnessing the positive impacts of these agreements in the years to come.
