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The UK is due to enact new free trade agreements (FTAs) with Australia and New Zealand at the end of the month on 31 May 2023.
If you intend to buy goods from or sell goods to Australia and New Zealand, the PKF Francis Clark customs team are happy to support your business in taking advantage of the new trading arrangements.
The new free trade agreements mean that:
- UK suppliers can sell goods to AUS/NZ at a reduced or nil rate of customs duty
- AUS/NZ suppliers can sell goods to the UK at a reduced or nil rate of customs duty
Most goods will no longer be subject to customs duties, provided rules of origin can be met and sufficient proof of origin can be provided.
The two agreements are the first to be negotiated completely from scratch since Brexit and differ from previous agreements in several areas – including the format of the origin statement used to support a claim.
The change will have a particular impact on the food and drink and agricultural sectors.
Commercially sensitive agricultural products such as beef, lamb and cheese will initially be subject to a quota system, however the aim is that all goods will eventually be liberalised. In time there will be no limit to the number of Australian or New Zealand agricultural goods exported to the UK.
If your business would like support to ensure if can take advantage of the new agreements, please do not hesitate to contact the PKF Francis Clark customs team at [email protected]