Providing access to more than 65 million UK consumers, the free trade agreement between Australia and the United Kingdom that was recently signed by both countries has been welcomed by Seafood Industry Australia (SIA), the national body representing Australia’s commercial seafood industry.
Expected to be in place by 31 May 2023, the agreement will eliminate tariffs on Australian seafood exports to the UK, including lobsters and fin-fish on entry into force, and the remaining tariffs will be eliminated over a three-year period.
SIA CEO Veronica Papacosta said the agreement is expected to create “a wealth of new opportunities” for the Australian seafood industry and strengthen trade ties between the two nations.
“This move will help to increase the competitiveness of Australian seafood in the UK market and will provide new opportunities for Australian seafood companies to expand their international operations and diversify markets,” Papacosta said. “Australian seafood exports to the UK were worth AUD 720,000 in the 2020‑21 period. The new agreement is expected to significantly boost this figure in the coming years and help to drive growth and diversity within the Australian seafood industry.”
She added: “Australian seafood is well regarded in the UK. Our fisheries are some of the most highly regulated and well managed in the world. Our sustainability credentials are very compelling, which for UK customers is a major competitive advantage. Our customers know they are getting high-quality products from sustainably managed fisheries. While our Australian exporters are known for their reliability and professional service.”
The deal with Australia was the first free trade agreement struck by the UK after its exit from the European Union.
Meanwhile, negotiations are continuing between Australia and the European Union on a separate FTA.
