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British companies have asked the UK government to negotiate tariff cuts for agricultural products such as cereals or their removal for products such as raw cane sugar and wine. In response, the UK government is setting up the new Trade and Agriculture Commission, which would “recommend guidelines that the government should adopt in free trade agreements to ensure that UK farmers are not exposed to unfair competition and that their high standards of animal welfare and production are not compromised”. This will provide UK farmers with a platform for free trade agreements with Australia and other countries. The Youth Mobility Visa, which allows young Australians to work up to two years in the UK, could also be optimised to allow more graduates to spend time in the UK before they turn 30. The visa expiration period can be extended or people can use it more than once depending on their employment status. At the end of the negotiations and as soon as the text of an agreement between the United Kingdom and Australia is known, a full impact assessment will be published before its implementation. DiT will continue to examine the potential economic impact of free trade agreements and the final impact assessment will update and refine the preliminary estimates of the magnitude and distribution of impacts set out in this framework assessment. Free trade agreements have the potential to influence the administrative procedures faced by international companies. As with modelling exercises, only a portion of the initial levels of and regulatory restrictions applicable to services are considered “applicable” in a trade agreement [footnote 68]. In this context, the definition of “feasibility” is the share that can be addressed by trade policy measures. This glossary contains general descriptions of some of the concepts of trade and investment that are frequently used. Some of these terms have meanings that vary within different sectors of trade and investment or between different trade and investment agreements. The descriptions in this glossary are intended to provide a general approach to these meanings and are therefore not always consistent with legal definitions or references in legal texts; or with the meaning of these terms in a particular context or area of negotiation.

Twelve companies identified trade in services, particularly professional and financial services, as a priority and identified a preference for the allocation of MRPQs in a future free trade agreement with Australia and the need for flexibility to recruit foreign staff and for workers who temporarily go abroad. . . .

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