Queensland farmers could profit from Brexit trade deal

The official end of the Brexit transition period at midnight on Thursday could trigger a huge windfall for Queensland’s economy.

POMS hungry for Aussie beef could drive a major boost for Queensland cattle farmers, as the Brexit transition period finally ends at midnight tonight on Thursday.

It could also open more opportunities to make it easier for Australians, particularly young Aussies, to be able to live and work in the UK.

When Britain joined the European Union in the 1970s new tariffs were introduced which severely curtailed once booming beef exports.

But Australia is seeking the elimination of tariffs on all goods and agricultural products, including beef, as part of ongoing UK free trade agreement negotiations in the wake of Brexit.

Queensland beef could be a big winner of a UK free trade agreement, which is expected to be secured in the wake of the Brexit transition being finalised. Picture: Allan Reinikka

Also on the cards are plans to make it easier for Australians and Britons in skilled professions to be able to work in each others countries through a temporary labour mobility program.

There are also discussions around supporting “youth mobility” between the two countries, according to the Department of Foreign Affairs and Trade.

While Australians under 30 are able to apply for a two-year working holiday visa, UK Trade Secretary Liz Truss has made it clear she wants to see greater freedom of movement between the two countries.

Queensland exported $846 million in goods to the UK in 2019-20, with lead being responsible for $467 million of that. Beef was just the fourth biggest export at $18 million.

AgForce boss Mike Guerin said if a good trade deal was struck there was no reason Queensland beef should not see significant increase in sales to Britain, which was once Australia’s biggest buyer.

“We should face this with incredible positivity. It’s creating lots of opportunities that will under pin us for a long time to come,” he said.

He said it could also help Australia diversify its markets, following continued trade difficulties with China.

“We would welcome a resumption of normal trade relations with China, but broadening and diversifying markets is an important way to reduce risk in the future and the UK presents an excellent opportunity,” Mr Guerin said.

Newly-appointed Trade Minister Dan Tehan said the Morrison Government welcomed the agreement between the UK and EU on Brexit which would provide additional certainty both in Europe and globally.

Trade Minister Dan Tehan says the Brexit deal being secured would help talks for a UK free trade agreement. Picture: Sam Mooy/Getty Images

“The deal will give renewed impetus to our efforts to secure comprehensive and ambitious free trade agreements with the UK and the EU,” he said.

A DFAT spokeswoman said substantial progress had been made in the Australia-UK FTA talks, with three negotiating rounds held so far.

“Australia is seeking an ambitious and comprehensive Free Trade Agreement with the United Kingdom that drives increased two-way trade in goods, services and investment,” she said.

Coal is Queensland’s second biggest export to the UK at $213 million, while $24 million in Queensland-made vehicle parts and accessories were sold to Britain.