British trade treaties with Australia and New Zealand are in force

LONDON (dpa-AFX) – Bilateral trade agreements between Great Britain, Australia and New Zealand were negotiated after Brexit took effect on Wednesday. Business Minister Kemi Badnoch hailed the entry into force as a “historic moment” that “enables businesses across the country to reap the benefits of our status as an independent trading nation”.

The deals with Australia and New Zealand are the UK’s first new bilateral trade deals since Brexit, and are not simply a replacement for existing agreements with the EU. Many British goods are no longer subject to import duties in either country. Trade in services and the issuance of visas for long stays have also become easier.

However, the Conventions are viewed critically, especially in British agriculture. After a transitional period, all duties and taxes on mutton and beef imports into Great Britain will be abolished. British farmers fear being left behind by competition from much larger farms in Australia and New Zealand. They also care about quality standards.

In addition, it is questionable whether the agreements will bear fruit economically. Even by government calculations, the agreement with Australia, for example, should deliver economic growth of just 0.08% over the long term by 2035.

Even Brexiteer and former environment minister George Eustice of the ruling Conservative party criticized Britain for “giving too much for too little”. /cmy/dp/tih