Trade policy – Rodda And Sons http://www.roddaandsons.com/ Sat, 05 Jun 2021 01:47:46 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.2 https://www.roddaandsons.com/wp-content/uploads/2021/03/cropped-icon-32x32.png Trade policy – Rodda And Sons http://www.roddaandsons.com/ 32 32 Brexit: Mr Kipling’s cake among the winners as Truss hails Australia’s ‘gold standard’ trade deal | Politics | New https://www.roddaandsons.com/brexit-mr-kiplings-cake-among-the-winners-as-truss-hails-australias-gold-standard-trade-deal-politics-new/ https://www.roddaandsons.com/brexit-mr-kiplings-cake-among-the-winners-as-truss-hails-australias-gold-standard-trade-deal-politics-new/#respond Sat, 05 Jun 2021 01:40:42 +0000 https://www.roddaandsons.com/brexit-mr-kiplings-cake-among-the-winners-as-truss-hails-australias-gold-standard-trade-deal-politics-new/ And, to give the UK food and drink industry a boost, the post-Brexit deal will help popular cake brands like Mr Kipling. The Commerce Secretary praised the upcoming deal with Australia, which she said will help Britain recover from the coronavirus pandemic. She also pointed out that the government was seeking to significantly reduce tariffs […]]]>


And, to give the UK food and drink industry a boost, the post-Brexit deal will help popular cake brands like Mr Kipling. The Commerce Secretary praised the upcoming deal with Australia, which she said will help Britain recover from the coronavirus pandemic.

She also pointed out that the government was seeking to significantly reduce tariffs on British imports into Australia.

Some products such as cheese are currently subject to a tariff of up to 20 percent.

She said Dailymail.co.uk: “From our world-renowned food and drink industry to our car and train manufacturers, we are pushing for lower tariffs on iconic UK exports.

“We know that export-oriented jobs are generally more productive and better paid, supporting jobs across the country, which will help us rebuild better after the pandemic.

“A landmark deal with our Australian allies, which is now in sight, would mark the next generation of trade deals and deliver great benefits to individuals and businesses across the UK.”

Richard Martin, Chief Customer Officer at Premier Foods, told the outlet: “British cakes Mr Kipling and Cadbury have quickly become the number 1 and number 2 cake brands in the Australian market respectively, and are purchased by 20% of Australian households. .

“A reduction in tariffs would support the future growth of these brands and facilitate opportunities for UK food and drink.”

It comes after the Trade Minister told MPs that UK businesses would be able to save £ 115million in tariffs when Ms Truss signs a trade deal with Australia this month.

Greg Hands praised Ms Truss’ plans as talks drew to a close.

Mr Hands told MPs the trade deal was a “major milestone” in Britain’s trade policy.

He said: “The deal will be the most advanced that Australia has concluded with any country except New Zealand and where we expect it to be particularly forward looking. in areas such as services, purchasing and digital commerce. “

Total trade between the UK and Australia stood at £ 18.8bn in 2019, with an agreement expected to lead to an additional £ 900m of trade.

It could also add another £ 500million to the UK’s annual GDP.



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Fish and cheese: UK signs trade agreements with Norway and Iceland https://www.roddaandsons.com/fish-and-cheese-uk-signs-trade-agreements-with-norway-and-iceland/ https://www.roddaandsons.com/fish-and-cheese-uk-signs-trade-agreements-with-norway-and-iceland/#respond Fri, 04 Jun 2021 13:32:00 +0000 https://www.roddaandsons.com/fish-and-cheese-uk-signs-trade-agreements-with-norway-and-iceland/ Britain has struck post-Brexit trade deals with Norway, Iceland and Liechtenstein as it seeks to forge new global trade ties after leaving the European Union. The three countries, which are part of the European Economic Area allowing them access to the single market, have relied on temporary trade agreements with Britain since the end of […]]]>


Britain has struck post-Brexit trade deals with Norway, Iceland and Liechtenstein as it seeks to forge new global trade ties after leaving the European Union.

The three countries, which are part of the European Economic Area allowing them access to the single market, have relied on temporary trade agreements with Britain since the end of the Brexit transition period on December 31. read more

Under the agreement with Norway, import duties on Norwegian fish and seafood, its second largest industry after oil and gas production, would be reduced, with no tariffs on white fish, like cod – a benefit to the fish processing industry in the north of England.

Britain will be able to export four cheeses to Norway, including Wensleydale and West Country Farmhouse Cheddar, with lower tariff payments than Norway normally imposes on foreign cheeses, which can be as high as 277%. The parties did not specify by how much the tariffs would be lower.

“We gave in on the cheese, but we have a little more on the fish,” Norwegian Prime Minister Erna Solberg said at a press conference.

Trade between Britain and Norway was worth £ 20.4 billion ($ 28.81 billion) last year, making it Britain’s 13th largest trading partner. Great Britain is Norway’s largest trading partner, mainly through gas exports, and its third largest buyer of fish and seafood.

Exports amounted to 8.1 billion pounds and imports 12.3 billion. The main UK goods exports were ships, petroleum and airplanes, while the main imports were petroleum, gas, metals, fish and seafood.

“Today’s agreement will give a boost to our trade with Norway, Iceland and Liechtenstein,” British International Trade Secretary Liz Truss said in a statement.

Total trade between Iceland and Britain was € 651m (£ 558m) in 2020, with Iceland exporting fish, mutton and skyr, an Icelandic yogurt.

“A new free trade agreement with Britain … will be crucial for Icelandic businesses and consumers,” Icelandic Foreign Minister Gudlaugur Thor Thordarson said in a statement.

The main goal of Britain’s post-Brexit trade policy has been to pivot its economic center away from Europe to the rapidly growing economies of the Asia-Pacific region.

It is expected to strike a deal with Australia later this month and is looking to join a trans-Pacific trade pact. Read more

($ 1 = 0.7084 pounds)

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Government adopts policy on free and preferential trade agreements https://www.roddaandsons.com/government-adopts-policy-on-free-and-preferential-trade-agreements/ https://www.roddaandsons.com/government-adopts-policy-on-free-and-preferential-trade-agreements/#respond Thu, 03 Jun 2021 14:51:31 +0000 https://www.roddaandsons.com/government-adopts-policy-on-free-and-preferential-trade-agreements/ Posted: 03 June 2021 20:51:31 Minister of Finance AHM Mustafa Kamal said the government has adopted a policy for the execution of bilateral agreements on free and preferential trade with different countries. Unveiling the 2021-2022 fiscal budget to parliament on Thursday, the minister said bilateral free trade agreements (FTAs) and preferential trade agreements (PTAs) were […]]]>