According to a press release from Meat & Livestock Australia, the terms of the agreement will liberalise access for Australian beef and sheep meat/goat meat to the UK over a transition period.

“The inking of the FTA solidifies an already close partnership between the two countries,” said Andrew McDonald, chair of the Australia-UK Red Meat Market Access Taskforce.

“Australia and the UK have a long history of trade, with the UK being a loyal purchaser of Australian beef and sheep meat, albeit in small volumes," he added. “Under the A-UK FTA, future trade will be more streamlined, removing burdensome costs from the red meat supply chain that ultimately disadvantage British consumers and stifle opportunities for market development."

Once ratified, the deal will allow Australian beef and sheep meat exports to enter the UK under a tariff rate quota (TRQ) regime. Tonnage will gradually increase over a 10-year transition period.

Product within the TRQ amounts will enter tariff free. Once the regime ends in 10 years time, a volume safeguard provision will be put in place until the end of year 15. After that, safeguards will no longer apply.