UK launches FTA negotiations with Australia, New Zealand

0 Comment(s)Print E-mail Xinhua, June 18, 2020
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The British government on Wednesday published its negotiating objectives for free trade agreements (FTAs) with Australia and New Zealand, with trade talks beginning shortly.

The new talks come after Britain and Japan launched trade negotiations last week, also seeking to seal a post-Brexit FTA.

"Our new-found status as an independent trading nation will enable us to strengthen ties with countries around the world," said Secretary of State for International Trade Elizabeth Truss.

The Department for International Trade said these talks will also act as a logical step towards Britain's accession to Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and both Australia and New Zealand support Britain joining CPTPP.

According to the government's analysis, the value of Britain's exports to the two countries could increase by around 1 billion pounds (around 1.25 billion U.S. dollars) as a result of the deals.

Britain is speeding up negotiations with its trading partners to secure more new deals after its exit from the European Union (EU) in January. London has failed to score any breakthrough with Brussels in their four rounds of future partnership talks.

British Prime Minister Boris Johnson on Monday held video talks with EU chiefs, with both sides calling for a new momentum in the search for an agreement before the end of this year when the Brexit transition period ends.

Last month, London launched formal talks with Washington on a trade agreement amid the coronavirus pandemic.

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