UK TRADE DEAL POSITIVE FOR GROWTH OF AUSTRALIAN FOOD, GROCERY AND BEVERAGE MANUFACTURERS
The Australian Food and Grocery Council (AFGC) welcomes the launch of the Australia-UK free trade agreement negotiations announced by the Federal Government today.
The FTA will focus on negotiating the removal of barriers to trade and ensures trade and investment relationships between the two countries, of which many in the sector participate in, can reach its full potential.
Acting AFGC CEO Dr Geoffrey Annison said any opportunity to help manufacturers to export their goods to the world is a great support Australia’s biggest manufacturing sector.
“The Australia-UK FTA will open up and maintain valuable opportunities for Australian food, grocery and beverage manufacturers exporting their products as well as strengthening supply chains for the future.” Dr Annison said.
“The launch of FTA negotiations provide assurance to many Australian food, grocery and beverage manufacturers looking to continue to export products to the UK or for those looking to diversify distribution in a post COVID-19 world.” Dr Annison said.
In 2017-18, total exports for the sector was $34.4 billion. The United Kingdom being one of the top ten export destinations for the sector, with exports of $816 million. In 2017-18, the total imports for the sector from the United Kingdom was $1.7 billion.
The Australian Food, Grocery and Beverage sector has been working tirelessly to keep the shelves stocked for all Australians and now the sector has confidence to take our safe and innovative products to the UK as trading gets back to normal.