The government is firmly committed to ending the high level of UK consumers, workers and environmental protection in trade agreements. The UK`s reputation for quality, safety and performance drives demand for British products and is the key to our long-term prosperity. The government does not intend to damage this reputation in order to enter into a trade agreement. The first, the EU-Australia Compliance Assessment Agreement, promotes trade in goods and facilitates market access by facilitating product compliance with certain regulatory requirements. The second part, the EU-Australia wine agreement, facilitates and encourages the wine trade and recognises geographical indications. UK exports to Australia will increase by 3.6% in Scenario 1 and 7.3% in Scenario 2. Using UK trade data for 2018 [footnote 81], this would represent an increase in British exports to Australia of $400 million in Scenario 1 and $900 million in Scenario 2. Ensure security and additional access to the markets of UK service companies by building on our similar economies, rules and systems and supporting industries that already account for most of our trade with Australia. Services accounted for 60% of our total exports to Australia and totalled $6.9 billion in 2019. A free trade agreement with Australia could improve the capacity of professionals in key areas of the UK force, such as accounting, auditing and legal services, engineering and architecture, facilitate travel and support recognition of professional qualifications in priority areas such as this one.

For example, there are opportunities for British architects, engineers and construction companies to build new railways, airports and skyscrapers across Australia, whether by supporting the construction of Sydney`s Western International Airport, upgrading the Sydney Metro to Australia`s largest and busiest Central Station or Melbourne`s new residential plan. A free trade agreement will also strengthen existing bilateral investment relations between Australia and the UK. There are a number of models that cover the main impact channels of international trade: the choice of baseline influences the impact of the agreement because of the considerable deterrent effect of trade resulting from the UK`s future economic partnership with the EU.

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