Stourbridge MP Suzanne Webb has welcomed the UK/Australia trade deal saying it will pave the way for global Britain and boost export opportunities in the West Midlands.
Suzanne, who is a Parliamentary Private Secretary (PPS) at the Department for International Trade, said it showed the ambition of the UK to trade across the world.
The main elements of the pact, agreed by Boris Johnson and the Australian Prime Minister Scott Morrison today, means British export goods like cars, Scotch whisky, biscuits and ceramics to Australia will be tariff free.
“I am really pleased we have secured this ambitious and comprehensive deal, which is the first of many and I believe will also pave the way for much bigger trade negotiations with other countries and blocks,” said Suzanne.
“The ultimate ambition is for the UK to join the Asia Pacific free-trade agreement called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
“This will open up a huge market for British goods and services over a vast area of the Earth and allow the UK to continue to expand its exports, drive growth, jobs and investment across the country.
“In the West Midlands, this deal with Australia means our car manufacturers will see up to a 5% cut in tariffs, boosting demand for their exports. This will help secure jobs in our region.”
Trade in goods and services between Australia and the UK was valued at £20.1bn in 2019/20.
British farmers will be protected by a cap on tariff-free imports for 15 years, using tariff rate quotas and other safeguards.
Both Prime Ministers also agreed to work closely together on defence, technology collaboration and tackling climate change.
A final Agreement in Principle will be published in the coming days.