The Australia United Kingdom Free Trade Agreement will provide greater access and certainty for Australian service suppliers and investors across a range of sectors. Professional services commitments cover the supply of legal, accounting and bookkeeping, taxation, architectural, engineering, urban planning, and landscape architecture services.
Business services commitments cover a range of sectors including computer and related services; research and development; real estate; rental and leasing without operators; and other services including advertising and management consulting.
Maritime transport services commitments guarantee access to ports and other maritime services.
Financial services commitments cover a number of new insurance and portfolio management sectors, including provisions on innovative financial services.
Telecommunication services commitments guarantee access to, and use of, public telecommunications networks or services and the independence of telecommunications regulatory authorities.
The UK will also provide Australian service suppliers and investors with new commitments, including in communications, construction, distribution, environmental, tourism, and transport services.
Business visitors in the UK will be able to visit for three months in any six month period, and Australian investors establishing a branch or subsidiary will be eligible for stays of up to one year.
For the first time in an FTA, the UK has agreed to include investment protections covering portfolio as well as direct investment.
If you’d like more information on how the FTA could benefit you or your business, get in touch today at hello@australiachamber.co.uk.
