With the Australia-UK free trade deal imminent, red meat exports set to benefit

Despite the misgivings of some UK farmers, especially worried sheep graziers, the FTA was finally given Royal Assent last week which allows the necessary legislation to bring the FTA into effect.

The livestock industry has reason to celebrate.

The FTA means beef tariffs will be eliminated after 10 years.

During the transition period, Australia will have immediate access to a duty-free quota of 35,000 tonnes, rising in equal instalments to 110,000 tonnes in 10 years.

Sheep meat tariffs will be eliminated after 10 years.

During the transition period, Australia will have immediate access to a duty-free quota of 25,000 tonnes, rising in equal instalments to 75,000 tonnes in 10 years.

Sugar tariffs will be eliminated over eight years.

During the transition period, Australia will have immediate access to a duty-free quota of 80,000 tonnes, rising by 20,000 tonnes each year.

Dairy tariffs will be eliminated over five years.

During the transition period, Australia will have immediate access to a duty-free quota for cheese of 24,000 tonnes, rising in equal instalments to 48,000 tonnes in year five.

Australian dairy farmers will also have immediate access to a duty-free quota for non-cheese dairy of 20,000 tonnes.

Rice will receive immediate duty free access for short and medium grain milled rice when the agreement enters in force.

The Federal government has welcomed news of the Royal Assent.

Royal Assent paves the way for both countries to bring the agreement into force as soon as possible.

The Australia-UK FTA is the UK's first new trade deal signed since Brexit.

Years in the making, it will reset access to the UK market for Australian exporters.

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Agriculture Minister Murray Watt travelled with National Farmers' Federation president Fiona Simson to the UK earlier in the year to get the deal "over the line".

Ms Simson said the success of Australian agriculture was heavily linked to international trade.

More than 80 per cent of our farm exports go to countries which have signed FTAs with Australia, she said.

Ms Simson said the UK and European Union (plus India) remain the final, major unrealised opportunities.

Trial shipments of some Australian produce have already started to India after a trade deal was signed last year.

The trade deal gives more than 85 per cent of Australian exports tariff-free access, rising to 90 per cent in six years.

For Indian exporters, 96 per cent of their imports are now tariff free, rising to 100 per cent in four years.

The Australia-UK FTA will remove tariffs on almost all the $9.2 billion Australian goods exported to the UK annually.

Australian professionals will also gain access to the UK jobs market on par with EU nationals, with more opportunities for intra-company transfers and for working holiday makers.

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Prime Minister Anthony Albanese said Australian exporters are operating in an increasingly contested and unpredictable environment.

"The Australia-UK FTA is an unparalleled opportunity to deepen our trade with a top five global economy."

NFF chief executive Tony Mahar said the deal will also give UK consumers the option of sustainable, high quality Australian produce on supermarket shelves to complement their existing home-grown options.

"Australia has among the lowest agricultural subsidies in the OECD. To survive and thrive, Australian farmers rely on open and fair access to export markets."