UK's Raab to discuss potential for early trade deal with Australia's Payne
SYDNEY/LONDON - British Foreign Secretary Dominic Raab hopes a free trade deal with Australia will be one of the first such pacts to be secured, now that Britain has left the European Union, he said on Thursday.
“We have a trade relationship already worth 17 billion pounds, but we have the potential to do so much more,” Raab told reporters in the Australian capital of Canberra. The figure is equivalent to $22 billion. Britain now takes just 3% of Australia’s exports, while China takes nearly 40%. Britain’s entry into the Common Market in 1973 was widely considered a betrayal in Australia, upending decades of tradition and a host of tariff deals.
Talks are expected to focus on trade, but Britain’s decision to allot a limited role for Chinese telecoms giant Huawei in building its 5G network could also be discussed.
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