Australia – UK Free Trade Agreement – signed!

The Australia UK Free Trade Agreement (A-UKFTA | Australia-UK FTA) was signed on 17 December 2021. However, the provisions of the agreement do not commence immediately.

Once in a generation deal.

The signed A-UKFTA must now be tabled in both of Houses of Australia’s Federal Parliament to undergo National Interest Analysis and consideration by the Joint Standing Committee on Treaties (JSCOT). JSCOT must then table a report on the A-UKFTA, including a recommendation as to whether binding treaty action should be taken.

Once the domestic procedures have been completed and confirmed, the A-UKFTA agreement will enter into force 30 days later, or on any other mutually agreed date.

Following these processes any legislative changes required to implement components of the FTA must also pass both Houses of Parliament.

The details of the various components of the A-UKFTA will take some time to be confirm, with some taking two to five years from the ‘entry into force’ (EIF) of the Agreement, including:

• Working holiday opportunities for both countries allowing the age limits to be lifted to 35 years and stays of up to three years will occur within two years of the EIF.
• Managers and specialists will have guaranteed access to intra corporate transfer and graduate trainees one year transfers – no detail of the visa pathways to be utilised has been provided as yet.
• Innovators and early career development will be piloted with a streamlined program capped at 1000 in the first year, rising to 2000 the second year, after which it will be reviewed to assess future implementation – it is expected that this pathway will utilise the Global Talent visa.
• Agricultural workers – a joint Declaration on Agriculture and Agribusiness Workers detailing available pathways for workers in this sector will be made and UK workers have been invited to participate in the Australian Agriculture Visa, which is under development.
• UK service suppliers including architects, scientists, researchers, lawyers and accountants will be able to access Australian visas without being subject to the occupation skilled lists.
• Recognition of professional qualifications between Australia and the UK will be increased with improved collaboration between accreditation and regulatory bodies.
• Australian and UK lawyers will have reciprocal rights to practice in each country.

Sources:

Migration Institute of Australia

Australian Department of Foreign Affairs and Trade

UK Government website

For more information contact Solicitor Dinesh Weerakkody – Special Consultant Trade and Investment. www.linkedin.com/in/dineshiriyagolleweerakkody

Further information on the inclusions and components of the A-UKFTA are available on the Australian Department of Foreign Affairs and Trade website and the UK Government website.

Media release: New era of free trade with the UK

For more information on the A-UKFTA outcomes, refer to the Australia-UK FTA outcomes documents.

For information on what happens next, refer to the Australia-UK FTA next steps document.

For the A-UKFTA official text and side letters, refer to the Australia-UK FTA official text.

For Australia-UKFTA tariff outcomes, refer to the FTA Portal