Australia and UK likely to have free trade deal

IT’S been a big week for Australia overseas, with heavyweight ministers for foreign affairs, trade and defence embarking on a diplomatic blitz post-Brexit.

The Prime Minister, Trade Minister and Foreign Minister toured China, Berlin, Brussels and London spruiking Australia’s economic strength and historical ties with the UK and EU, pressing the flesh and outlining what future free trade deals might look like.

And their timing couldn’t be better, with many in the UK ready to pounce on suggestions of what Britain’s economic future could be in the ideas vacuum surrounding the Brexit vote.

News that the two countries would start scoping a deal made headlines in the UK, with suggestions the country could become awash with cheap Aussie wine and beer. Politicians described it as a “win-win” for two historically aligned countries both looking for a “friendly face”.

“Australia loves a trade deal — especially a free trade deal,” wrote Daniel Hatch in The Telegraph about the way leaders Malcolm Turnbull and Theresa May virtually “sprinted” into each other’s arms at the G20 in China.

“Who better to clinch a trade deal with than family? Who better to go into business with than a country with which we have so much shared history, shared culture, and so deep an affection that we occasionally let them win the Ashes?” he wrote.

“And what better way for Britain to apologise for so callously cutting off fraternal ties back in 1973 in favour of that troublesome tart, Europe? What better way to make up for abandoning your little brother in favour of fish quotas, straight bananas and eggs by the kilo?”


http://www.news.com.au/finance/economy/world-economy/australiauk-potential-free-trade-agreement-hailed-as-success-but-not-everyone-is-convinced/news-story/8841564d7188cd34eb79112f041a6579

Commonwealth trade is worth an estimated nine per cent of British imports and exports compared to 44 per cent for the European Union.

The self-described “bitter remain” voter said the notion that the Commonwealth can make up for an open trading relationship with the EU strikes him as “straw-clutching” from Brexiteers.

“It sort of amused/exasperated me that there’re so many media outlets and vested interests that are so keen to make Brexit work and make it a success that the merest glimmer [of success] is placed in this megaphone.

“People are amazed Australia will trade with us,” he said. “[We hear] the UK will be flooded with cheap Aussie wine because our terms will be so favourable that we’ll all be drinking Grange …. But when you look down into the details that we might get 10 pence off a bottle in 2025.

“There is a real patronising arrogance … that Britain is very important to these countries.

“I have the feeling the rest of the world is a bit confused and fed up with us and wants us to get our sh*t together.”

veya_victaous wrote:

IT’S been a big week for Australia overseas, with heavyweight ministers for foreign affairs, trade and defence embarking on a diplomatic blitz post-Brexit.

The Prime Minister, Trade Minister and Foreign Minister toured China, Berlin, Brussels and London spruiking Australia’s economic strength and historical ties with the UK and EU, pressing the flesh and outlining what future free trade deals might look like.

And their timing couldn’t be better, with many in the UK ready to pounce on suggestions of what Britain’s economic future could be in the ideas vacuum surrounding the Brexit vote.

News that the two countries would start scoping a deal made headlines in the UK, with suggestions the country could become awash with cheap Aussie wine and beer. Politicians described it as a “win-win” for two historically aligned countries both looking for a “friendly face”.

“Australia loves a trade deal — especially a free trade deal,” wrote Daniel Hatch in The Telegraph about the way leaders Malcolm Turnbull and Theresa May virtually “sprinted” into each other’s arms at the G20 in China.

“Who better to clinch a trade deal with than family? Who better to go into business with than a country with which we have so much shared history, shared culture, and so deep an affection that we occasionally let them win the Ashes?” he wrote.

“And what better way for Britain to apologise for so callously cutting off fraternal ties back in 1973 in favour of that troublesome tart, Europe? What better way to make up for abandoning your little brother in favour of fish quotas, straight bananas and eggs by the kilo?”


http://www.news.com.au/finance/economy/world-economy/australiauk-potential-free-trade-agreement-hailed-as-success-but-not-everyone-is-convinced/news-story/8841564d7188cd34eb79112f041a6579

Commonwealth trade is worth an estimated nine per cent of British imports and exports compared to 44 per cent for the European Union.

The self-described “bitter remain” voter said the notion that the Commonwealth can make up for an open trading relationship with the EU strikes him as “straw-clutching” from Brexiteers.

“It sort of amused/exasperated me that there’re so many media outlets and vested interests that are so keen to make Brexit work and make it a success that the merest glimmer [of success] is placed in this megaphone.

“People are amazed Australia will trade with us,” he said. “[We hear] the UK will be flooded with cheap Aussie wine because our terms will be so favourable that we’ll all be drinking Grange …. But when you look down into the details that we might get 10 pence off a bottle in 2025.

“There is a real patronising arrogance … that Britain is very important to these countries.

“I have the feeling the rest of the world is a bit confused and fed up with us and wants us to get our sh*t together.”

The Devil wrote:access to the single market requires free movement

Tommy Monk wrote:No it doesn't... plenty of countries all over the world trade with the eu without having free movement!!!

Britain should not expect any compromise on the European Union’s free movement rules if it wants to stay in the single market, the former EU leader Herman Van Rompuy has said.

Van Rompuy, who led the European council during five years of economic crisis, warned that divorce negotiations between the UK and the EU would be very difficult. “I cannot imagine special treatment for Britain if they want access to our market of goods and services,” he told the Guardian.

Since the shock victory for leave, Britain’s relationship with the rest of Europe has been thrown into turmoil. Both sides are in post-referendum limbo, with official talks yet to start, while the search for a British prime minister goes on.

Van Rompuy, a former prime minister of Belgium, will not be involved in negotiations. But between 2009 and 2014 he chaired EU leaders’ summits, giving him unrivalled insight into the art of the Brussels compromise.

“In principle, you can always find compromises. But there will be one major difficulty. You cannot negotiate different treatment for Britain compared to the other 27,” he said.

Ben Reilly wrote:

The Devil wrote:access to the single market requires free movement

Maybe Tommy will believe that coming from you -- I've been telling him that ever since the Breshit vote and he refuses to believe me.

Tommy Monk wrote:We aren't staying in the single market because that means staying in the eu... and we are leaving the eu...!!!


We can trade with the eu without being in the eu and without being run by the eu!!!



And you don't have to be in the single market to trade with the eu!!!

Tommy Monk wrote:No... vast majority of British businesses don't do any trade with eu and don't want to be subject to eu regulations at huge detrimental cost.


We can trade with eu without being in the eu...


Being in the single market means being in the eu... something we have voted to leave...

Ben Reilly wrote:

Tommy Monk wrote:We aren't staying in the single market because that means staying in the eu... and we are leaving the eu...!!!


We can trade with the eu without being in the eu and without being run by the eu!!!



And you don't have to be in the single market to trade with the eu!!!

We go round and round on this one ... as I've taught you before, British businesses are going to want single market access, because the alternative is dealing with thousands of different countries' regulations and red tape.