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Free Trade Agreements Australia

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The baseline is the state of the economy in the absence of a free trade agreement between the UK and Australia. For the purposes of this analysis, stylised assumptions are adopted to establish a trade…

The baseline is the state of the economy in the absence of a free trade agreement between the UK and Australia. For the purposes of this analysis, stylised assumptions are adopted to establish a trade relationship between the UK and the EU on the basis of a hypothetical free trade agreement, with zero tariffs and an increase in the costs of NTMs on the basis of historical free trade agreements. [footnote 62] These assumptions about long-term relationships are necessary to lay the groundwork for modelling new trade agreements, but do not represent government policy. The modelling does not explicitly take into account the effects of the Protocol on Ireland and Northern Ireland (in the Withdrawal Agreement). Secure the most modern provisions that maximize digital commerce opportunities in all sectors of the economy.

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