Post-Brexit UK keeps hopes up for early free trade with Australia


Post-Brexit UK keeps hopes up for early free trade with Australia

British Foreign Secretary, Dominic Raab told reporters on Thursday that the UK has been eyeing a free trade deal with Australia and hopes that it would be one of their first trade agreements to secure since Britain has exited the bloc.

After Britain had formally left the European Union on January 31st, it has seen itself entering a new transition period which would allow the country to negotiate further with Brussels regarding future ties.

The U.K. also has hopes to begin talks with other major economies such as the United States and Japan.

"We have a trade relationship already worth 17 billion pounds ($22.07 billion) but we have the potential to do so much more," Raab told reporters in Canberra, the capital city of Australia.

"Australia hopefully will be part of that first wave of high priority deals that we are pursuing." Raab told reporters after a meeting with Australian Foreign Minister Marise Payne.

Apart from the UK, Australia is also currently in trade talks with the European Union, though Payne said that it would not hinder the outlook of a British trade deal.

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