Australia to have pact with UK, after 'Brexit' is complete

September 10, 2016
Australia will have a trade agreement with the United Kingdom after three years, possibly after UK ends all its deals with the European Union, post Britain’s exit from the European Union.

Australia to have pact with UK, after 'Brexit' is complete

The Australian Trade Minister Steven Ciobo said, that, consultation process for trade deals are "fraught with complex” Steven, and his United Kingdom counterpart has started a working group to evaluate a possible business agreement. 

Ciobio’s bold statement on trade deal is followed by Australian Prime Minister Malcolm Turnbull’s meeting with the United Kingdom’s Prime Minister Theresa May in the G-20 summit. 

The Minister clearly indicated that no deal will be possible until UK’s deals with the European Union ends. "Based on what I’ve been told, if Article 50 [launching formal Brexit talks] is presented quarter one or quareter two next year, and then a two-year window in relation to that, so you would expect that it’s at least two and a half years off.”

He added, "Negotiating trade deals is fraught with complexity. There is always domestic sensitivities between negotiating parties, concerns and consideration that need to be given to particular industries or particular approaches or certain regulatory frameworks, but it's important that you also don’t get too caught up in the detail.”

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