What does the A-UK Free Trade Agreement mean for your career?
The Australia–United Kingdom free trade agreement was signed 17 December 2021. The broad terms of the agreement had been agreed six months earlier, following almost a year of negotiations. It was the first trade agreement signed by Britain since leaving the European Union that was negotiated completely anew.
Australia secured a seven-fold increase in tariff-free access to the UK market for its beef and lamb exports, to be phased in after ten years. In return, British citizens under 35 can get working holiday visas for three years instead of the previous two, and Australian employers do not need to show economic necessity to hire them.
The Australia-UK Free Trade Agreement (A-UK FTA) is expected to enter into force on 31 May 2023!
What does this mean for you are a young Brit, possibly working towards an ACCA or CIMA qualification, if you wish to work in Australia?
UK and Australia share a long-standing partnership, in all spheres, even in the accounting domain. Through reciprocal agreements and MOUs, your ACCA/CIMA membership is considered equivalent to a CAANZ/CPA Australia membership, and gives you access to top-tier Australian jobs in banking, finance, insurance, auditing, and assurance.
Check out the ACCA and CIMA careers website for your next globe-trotting experience!