Trade deals done, now for UK and Europe

Australia has ratified free-trade agreements with Indonesia, Peru and Hong Kong, clearing the decks for talks with the EU and Britain.

Trade Minister Simon Birmingham. Picture: Kym Smith

Australia has ratified new free-trade agreements with Indonesia, Peru and Hong Kong, clearing the decks for intensive FTA negotiations with the EU and Britain.

Trade Minister Simon Birmingham delivered official ratification papers on Tuesday to enact the three finalised agreements, allowing them to take ­effect in the first quarter of 2020.

Peru and Hong Kong have done the same, while Indonesia is expected to deliver its ratification papers to Australia early in the new year. Senator Birmingham said the agreements would deliver­ greater market access to farmers, and new opportunities for Australian businesses.

“These high-quality and comprehe­nsive agreements will open new doors and deliver wide-ranging benefits in industries ­including agriculture, manufac­t­uring, mining, education and tourism,” he said.

“Our grain growers will now be able to export 500,000 tonnes of feed grains each year into Indon­esia tariff-free, while Aust­ralia­n dairy farmers will have histori­c new access to the Peru market, with zero tariffs locked in from day one on 7000 tonnes of products. Under our deal with Hong Kong, zero tariffs will be locked in on goods, market access will be guaranteed for services suppliers, and conditions for two-way investment will be significantly improved.”

Senator Birmingham said the agreements built on previous successe­s in sealing free-trade agreements, which had fuelled surging exports and the nation’s biggest-ever trade surplus.

The EU free-trade deal is being negotiated, while a post-Brexit trade deal with Britain could be rapidly hammered out after its formal exit from the EU.

Re-elected Prime Minister Boris Johnson has said he will make a free-trade agreement with Australia a top priority for Britain. Negotiations are expected to restart early next year, followin­g the ratification of Brexit, with a final deal potentially struck within 12 months.

Australia is in the box seat, along with the US, to become the first country to secure a post-Brexit agreement.

After speaking to Mr Johnson on Saturday, Scott Morrison said he was confident about striking an agreement soon.

The Australia-EU free-trade deal could potentially be more difficult to finalise, amid wrang­ling over the rights to cheese and alcohol names, and pressure for Australia to lift the ambition of its carbon emissions targets.