Landmark trade deal to boost businesses in the region, MPs say
A landmark trade deal between the UK and Australia will boost export opportunities for businesses in the West Midlands, according to MPs.
The new pact – which marks the first post-Brexit agreement to be built from scratch – will mean British products including cars and whisky can be sold to Australia tariff-free.
It has been hailed by Tory MPs across the region after Boris Johnson said it would open up "fantastic opportunities" for British businesses and consumers.
Stourbridge MP Suzanne Webb, a Parliamentary Private Secretary (PPS) at the Department for International Trade, described the deal as "comprehensive" and said it showed the UK's ambition to trade across the world.
She said it was the first major step towards the UK joining the Asia Pacific free-trade agreement, which will open up a "huge market for British goods and services".
Ms Webb added: "In the West Midlands, this deal with Australia means our car manufacturers will see up to a five per cent cut in tariffs, boosting demand for their exports. This will help secure jobs in our region."
Under the terms of the deal, the Government said farmers will be protected by a cap on tariff-free imports for 15 years. However, some farmers have called for long term safeguards to be put in place to prevent them from being undercut by cheaper imports.
Sir Bill Cash, Conservative MP for Stone, said it was vital that farmers were protected and that there was "proper balance" in the fine detail of the deal.
He said: "The 15 year gap gives us time to work out how best to look after our farmers.
"It looks a very good deal and clearly our future lies with the enormous opportunities that we have from global trading.
"We are now no longer strangled by the EU and are free to have our own trading arrangements as we had for hundreds of years before.
"By trading properly with countries like Australia, New Zealand, Canada, Japan and the United States there will be some fantastic opportunities ahead."
Trade in goods and services between Australia and the UK was valued at £20.1 billion in 2019-20.
A final agreement in principle is expected to be published in the coming days.
