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Brexit news latest: Australia to begin trade talks with UK 'as soon as possible'

Australia is ready to begin trade talks with the UK “as soon as possible” after Brexit, the federal government has stated.

The Department for International Trade confirmed that the UK and Australia will agree to begin talks when the UK leaves the EU, at the moment scheduled for October 31.

Australian prime minister Scott Morrison had already signalled his willingness to proceed with talks rapidly, saying he believed a deal could possibly be finished inside a yr.

International Trade Secretary Liz Truss will meet her Australian counterpart Simon Birmingham and different senior politicians within the capital Canberra on Wednesday.

Ahead of the go to, Ms Truss stated she wished to see an “ambitious trade deal” which reduces tariffs and boundaries for UK exporters. She added: “We can’t afford to wait. Britain goes to be prepared to trade after Brexit.

“That’s why I’m so happy that in the present day we’re reaffirming our dedication to launch bilateral FTA (free-trade settlement) negotiations as soon as doable.

“It’s good to see that Australia goes to be fast off the mark and it will be mirrored by the UK underneath our new authorities – a authorities that takes motion.

“A UK-Australia trade deal will not simply be a great factor it will be an excellent factor, for our companies, for our customers, for our employees and for our two nice international locations.”

According to the Department for International Trade, the UK’s buying and selling relationship with Australia was value £16.6 billion within the yr to March 2019, with round 15,000 UK companies exporting items there.

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