The Australia-United Kingdom Free Trade Agreement and the New Zealand-United Kingdom Free Trade Agreement came into force on 31st May with the promise of fewer tariffs (on more than 99% of Australian goods exported to the UK and on all UK goods to Australia). The aim is to cut red tape and make it easier for UK citizens to live and work ‘down under’ and in NZ. For UK firms exporting green goods and services to New Zealand, the agreement offers world leading terms.
It is hoped that this will increase bilateral trade with Australia by 53% and New Zealand by 59% although there are concerns that this will be £2.3bn p.a. by 2035 which is only 0.08% of GDP. Trade between the UK and Australia was worth £15.1bn in the four quarters to the end of Q4 2022, while UK trade with New Zealand was worth £2.5bn in the same period.
It is new era of international trade as these are the UK’s first post-Brexit deals to come into force and they come just weeks after the UK concluded negotiations to join the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), a free trade area worth £9tn.
Of course, the success of any free trade agreement comes down to whether businesses use it and across the UK only 10% of firms are currently exporting. If we are to realise the UK’s ambition to be at the forefront of the continuing revolution in life sciences, digital services and green innovation we must look to trade more.
A recent British Chambers of Commerce (BCC) survey found almost a quarter of firms (23%) said finding a business partner or distributor overseas would encourage them to either start exporting or export more.
There are strong Chambers of Commerce in both Australia and New Zealand that are affiliated to the BCC, and we will be working with them to get the most from these trade deals for all our economies.
Having those contacts, that local market understanding and full recognition of the rules and procedures that apply in a destination country can make all the difference between success and failure.
If you are thinking about selling goods and services to New Zealand and Australia now is a good time to take the plunge.
For help and advice on exporting to Australia and New Zealand or any other countries, contact the team at the Chamber: exportmailbox@staffordshirechambers.co.uk
Volunteers’ Week 2023
2023 marks the 39th year of Volunteers’ Week (1-7th June), as Staffordshire Chambers of Commerce joins thousands of charities and voluntary organisations recognising the contribution volunteers make across the UK. This year’s theme of ‘Celebrate and Inspire’ aims to encourage people to be the change that we want to see and get involved in volunteering in whatever way works for them.
The contribution of volunteers is often unseen, visible only through the incredible impact of their volunteering, so taking the time during Volunteers’ Week to celebrate their efforts and all they contribute to our local communities, the voluntary sector and society, has never been more important.
Staffordshire businesses have a long tradition of putting back into the communities in which they are based through their charitable actions and by encouraging employees to volunteer, be that for a few hours a month or on a more regular basis.
Our local charities, hospitals, schools, and community groups simply could not operate at the level they do without the enormous contribution from volunteers.
And it’s not just the recipients that benefit from volunteering. It is a proven fact that those who volunteer become better team workers and have greater job satisfaction in turn boosting retention and enhancing reputation both as an employer and a socially responsible organisation.
If you would like to get more of your employees involved in volunteering, we can help put you in touch with local organisations and charities that are always looking for willing volunteers.
Contact us via the details below and for more information on Volunteers’ Week click here:
If you want to talk to us about any business issues, including funding, you can call our switchboard on 01782 202222 or call the Stoke and Staffs Growth Hub Helpline on 0300 111 8002 or email: info@staffordshirechambers.co.uk
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