AUS-UK FTA to support the transition to net zero emissions

The Australia-United Kingdom Free Trade Agreement (FTA) signed today will support the growth of investment in each country, including in minerals exploration, production, processing and the technologies to support advanced manufacturing.

This is particularly important as we collectively develop the solutions to the challenges presented by the transition to net zero emissions, while meeting the economic and social expectations of our global society.

The FTA will secure the global supply chains and investment that underpin the partnership between the two nations and the economic development of our region.

It will also support the technology-led productivity growth that has lifted the incomes and improved the living standards of millions of people.

Coupled with rising urbanisation and the transition to net-zero emissions this will drive demand for the range of commodities needed in the technologies and industries of the UK and our partners across the world.

The UK is Australia’s fifth-largest merchandise trading partner, with two-way goods trade worth $21.9 billion in 2020.

The UK is also the third-largest source of foreign direct investment in Australia, valued at $123 billion in 2020, and the second-largest source of foreign investment in terms of total stocks.

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