British PM Rishi Sunak says that free trade agreements with Australia and New Zealand will go live from midnight on May 31.
| Prime Minister Anthony Albanese will meet European Commission President Ursula von der Leyen on the sidelines of the King’s coronation in London, as the two sidesThe meeting comes as Mr Albanese and British Prime Minister Rishi Sunak will on Friday formally set a May 31 start date for the much more speedily agreed“From June 1, it is game on for Australian businesses, game on for UK businesses,” Mr Albanese told journalists in London late on Thursday .
It will remove red tape, liberalise working visas, and erase most tariffs and quotas except those on key Australian farm exports, which will be phased out over five to 10 years.Mr Albanese said the removal of tariffs or quotas in both directions would create a “deflationary effect” from cheaper imports in both countries, helping with the rising cost of living.
After another round of FTA talks in Brussels in April, Canberra appears increasingly worried that the deal will disappear into a political black hole if it isn’t finalised by mid-year, when European parliamentarians start to go into election campaign mode for May 2024. “We’re continuing to work very hard because we want that to come into effect as soon as possible,” he said.The sticking points are likely to relate significantly to agriculture. All countries find it hard to get past the EU farm lobby’s umbilical attachment to strict tariffs and quotas.
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