The United Kingdom should position itself for speedy free trade negotiations with Australia after Brexit, Australia’s High Commissioner told a London audience on Thursday.
George Brandis, who recently served as Australia’s Attorney-General, appeared alongside former Prime Minister John Howard to continue laying the political groundwork for a free trade agreement.
“Australians believe Australia and the UK should prepare, with a sense of urgency, to negotiate a high quality and ambitious trade agreement once the UK leaves the European Union,” Mr Brandis said.
“Bilateral trade agreements have become the key policy instrument to achieve trade liberalisation.”
Mr Brandis noted Australia’s free trade deal with the United States only took 15 months from the start of negotiations to its completion.
Australia has also recently started FTA negotiations with EU.
But, he warned against calls for a more protectionist post-Brexit United Kingdom.
“Stare down and disregard the warning of catastrophists and doomsayers,” he said.
“Protectionism is a fool’s errand.”
Australian beef producers can barely meet demand in Asia, let alone flood the UK market and disadvantage local farmers, Mr Brandis said.
Former Prime Minister John Howard also urged the UK to take advantage of trade opportunities with Australia.
“I hope the Brexit arrangement is as absolute and clean and unambiguous as it possibly can be,” Mr Howard said.
“I hope what will follow is the speedy conclusion of a free trade agreement between the United Kingdom and Australia.”
Mr Howard highlighted the potential for professional services to increase between the two countries, rather than traditional agricultural trade.
The UK is scheduled to depart the European Union in March 2019.
Currently, Australia accounts for less than 1 per cent of imports to the UK, according to the Department of Foreign Affairs.
Similarly, only 1.3 per cent of the UK's total exports go to Australia.
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