Last week The Telegraph reported that suborbital space flights from London to Sydney could be possible within the next ten years, meaning we could travel between Liquid’s offices in just two hours!

Although exciting, a decade is a long way off. However, today marks a leap forward in the partnership between the UK and Australia.

Following years of negotiations, the free trade agreement, or the A-UK FTA, between the two countries has finally come into play. Hailed as a ‘gold standard’ agreement and ‘one of the best that Australia has ever done’ by Australian Prime Minister Anthony Albanese, the trade deal is the first that has been struck by the UK after our exit from the European Union.

But what does it mean for us and what could it mean for you?

At a whopping 32 chapters long (plus appendices), there is a lot to take in and decipher, but we’ve picked out some of the key changes that the A-UK FTA will introduce.

Better export opportunities

One of the key changes for both Australian and UK-based businesses is the reduction in tariffs for exporting goods between the two markets.

UK exporters will benefit from zero tariffs when selling to Australia, if they can prove that their products originate from British soil. This is particularly good news for producers of spirits and liqueurs whose tariffs will drop from as much as 10% to 0%, with immediate effect. To put this in perspective, in 2022 exports to Australia were worth almost $3M and spirits came in at number 6 in the top 10 exported product categories.

The reduced tariff will open up the market, allowing smaller distillers to consider expanding and exporting to Australia. This is even better news for the Australian office who are delighted that they might see their favourite gins on the shelves soon!

Working both ways, there will be no tariffs on the vast majority of Australian goods exported to the UK. This is a huge opportunity for the agriculture sector in particular and suppliers of some products will also have access to expanding tariff quota volumes which, within ten years, are due to disappear altogether.

The Australian Government has predicted savings of around $200 million each year by eliminating tariffs. As a result, we can expect to see an increase in Australian products such as nuts, honey, meat, dairy, seafood, spices, sugar and wine in the UK.

If you’ve read our blog on Team Australia’s first impressions of living in Brisbane, you’ll know that we immediately fell in love with the produce on offer – it’s so exciting that the team back in the UK might soon be able to get a taste of it too.

International job prospects

On top of encouraging lucrative export opportunities, the A-UK FTA will open doors for professional development, encourage the recruitment of international talent, create exciting job prospects in both markets and, for us, ensure our very best people can grow their global knowledge and experience.

A critical introduction to the agreement is two new visa schemes allowing early career workplace exchanges for graduates aged between 21 and 45. At Liquid, we’re passionate about supporting the next generation of communicators – two of our junior team members are already three months into secondments in Brisbane, building their skillsets and gaining a unique global perspective. We’re hoping that these changes will allow us to create more opportunities for current and future Liquid employees, on both sides of the world!

Relaxed rules for UK businesspeople delivering short-term services in Australia mean that our teams can continue to work collaboratively and that sector experts can easily travel down under to bolster on-the-ground skillsets and support on specialist projects.

All of the above, with people, planet and purpose in mind

With potential increases to exports and international travel, the A-UK FTA also needed to consider the environment and how to lessen the impact. High standards and collaborative challenges have been set on tackling climate change and abolishing unfair trading practices that have the potential to harm domestic industries in both markets.

We are no exception, Liquid’s dedicated ESG department is hot on maintaining our commitment to sustainable and responsible business practices and communicating the practices of our clients.

So what now?

Are you a business based in the UK or Australia, looking to start doing business in the opposite market?

We have heaps of experience in telling the stories of international products and introducing them to new markets, in fact, it’s why we set up Liquid Australia in the first place.

With our two offices working together to offer round-the-clock support and global expertise, we’d love to help you take this new and exciting step on your journey.

Interested? Get in touch at info@weareliquid.com, we’d love to hear from you.