Parliamentary inquiry into Australia’s trade and investment relationship with the United Kingdom
In December 2016, the Trade Sub-Committee of the Parliament’s Joint Standing Committee on Foreign Affairs, Defence and Trade (JSCFADT) commenced an inquiry into Australia’s trade and investment relationship with the United Kingdom. The Terms of Reference for the inquiry instructed the Committee to examine, among other matters, ‘the merits and risks of a possible bilateral free trade agreement with the UK, and potential features of such an agreement’.
The Committee has held a number of public hearings and, to date, received over 70 submissions. A joint submission [PDF] was produced by the Department of Foreign Affairs and Trade (DFAT), the Australian Trade and Investment Commission (Austrade), the Export Finance and Insurance Corporation (EFIC), and Tourism Australia.
The Committee published an Interim Report in October 2017, which summarised its findings to date and noted that it would present its final report and recommendations in the lead up to the conclusion of the ‘Brexit’ negotiations.
The Committee’s final recommendations, along with the submissions it has received, will help to inform Australia’s positions in future discussions and negotiations with the UK.
The UK Parliament’s International Trade Committee has separately launched an inquiry examining the potential for a new trade relationship with Australia. DFAT submitted written evidence to this inquiry [PDF].