loader image

Britain’s Free Trade Agreement with Australia; An Attempt for Relative Compensation of Damages Caused by Brexit

2022/01/08 | Economy, interview, top news

Strategic Council Online - Interview: An expert on Europe affairs, commenting on the signing of a free trade agreement between Britain and Australia, said: Signing of the agreement was done within the framework of the policy of replacing Britain’s trading partners with the European Union after the Brexit.

Speaking in an interview with the website of the Strategic Council on Foreign Relations, Morteza Makki said: As long as Britain was present in the European Union, half of its trade was with the 27 members of the Union; under the post-Brexit arrangements between Britain and the European Union, London has continued its trade with members of the Union, but has been deprived of the benefits of gaining access to the single European market and has lost the benefits of trading with the Union.

According to the expert, Britain now has to sign new free trade agreements with other countries, in order to have new opportunities for gaining access to the alternative markets of the 27 members of the European Union. Therefore, after the 2016 Brexit referendum, the various governments of Britain, namely Theresa May and Boris Johnson, put the policy of signing free trade agreements with other countries, with the Anglo-Saxon and Commonwealth countries at the forefront, on their foreign and trade policy agenda.

Makki continued: In the past few years, especially since Joe Biden took office at the White House and Britain officially left the European Union in January 2021, political and diplomatic mobilization of that country to sign free trade agreements with the United States, Australia, India and some other eligible countries which also have large markets has been intensified.

The expert on Europe affairs, saying that signing of a free trade agreement with Australia can be considered within the framework of that British policy after the Brexit, said: Of course, signing of a free trade agreement with Australia is also important in another sense, and that is the signing of a tripartite security agreement between the United States, Australia and Britain dubbed AUKUS, which is part of China’s containment policy.

He continued: The AUKUS Pact is a turning point in security relations between the West and the changing political and security equations in the Pacific. Given the status of the AUKUS agreement, strengthening economic and trade ties between the three countries which speak the same language – Australia, the United States and Britain – is of great importance, and it can be said that we are witnessing strengthening of the three countries’ alignment against China with the signing of the free trade agreement between Australia and Britain.

According to Makki, signing of the agreement between Australia and Britain could pave the way for signing of a free trade agreement between the United States and Britain, and if such an agreement is signed, Britain will achieve a great economic and political achievement. It can also help the London government within the context of British mobility in the world arena.

The expert on Europe affairs also referred to the economic consequences of Brexit for Britain and said: The loss of the single European market has dealt a severe blow on the British economy, an example of which we witnessed in the disruption of gasoline distribution at petrol stations in that country in the past few months. The reason was said to be that the British transport industry due to being excluded from the single European market, was deprived of the presence of truck drivers from other European countries in the fuel distribution and transport market in Britain, and Britain lost the necessary economic benefits for drivers of other countries.

Saying that Britain was also facing other threats after leaving the European Union, he emphasized: Therefore the country is working to replace the EU market with other markets in order to reduce economic consequences of Brexit.

Makki continued by saying: This is while Britain will continue to be exposed to serious crises, such as the fuel crisis, in the short term. Whereas one of the advantages of the European single market was the quadruple free movement of capital, goods, services and the European citizens, which enabled the 500 million population of the European Union to engage in trade and economic activities and trade among the member states of the EU without any borders; but now Britain no longer has that advantage.

The expert, saying that London is the second largest financial center in the world, noted: Therefore if Britain cannot gain access to other world markets without tariffs and free movement; it may lose its position as a financial and service center in the EU and in the world.

He stressed: Therefore, one of the most important threats to Britain after the Brexit is that other European financial centers, such as Hamburg, have replaced London and EU members will certainly try to determine new financial and service centers instead of Britain and do their exchanges through that way.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

LATEST CONTENT

West’s Strategy to Contain China

Strategic Council Online – Opinion: Banning the use of the Chinese application TikTok in Britain, for security reasons, is considered the last reaction of the West to China’s influence and global power-building.
Hossein Sayyahi – International politics researcher

An analysis of the political weighing process in the recent G20 summit

Strategic Council Online-Interview: An expert on European issues stated that the recent G20 summit was a demonstration of the alignment of the great and emerging powers of the world after Russia attacked Ukraine, adding that what happened in this summit demonstrated the transparency of the policies announced and applied by the members and during the summit some countries had to choose either to stand by Russia and against the West or this country.

Iran’s Defense Diplomacy, Marine Security Belt Exercise 2023

Strategic Council Online – Interview: The commander of the strategic naval forces of the army said that the 2023 marine security belt joint exercise would help to develop cooperation between the naval forces of Iran, China, and Russia, as well as increase the readiness to provide maritime security and safety jointly in line with creating peace and regional stability, announced the efforts being made to have the countries of the region participate in a marine belt exercise as well as the cooperation of the commanders of the Indian Ocean Naval Forces Symposium (IONS) for the following year.

Analysis of Iraq – Germany Energy Agreements

Strategic Council Online – Opinion: While preliminary agreements have been made regarding the export of oil and gas to Germany and Europe, Baghdad will face great challenges in realizing its ambitious goals.
Pouria Nabipour – PhD in political science and international relations

An analysis of the ineffectiveness of the international law system

Strategic Council Online—Opinion: On March 17, 2023, the International Criminal Court issued an arrest warrant for Vladimir Putin, the President of Russia, and for the first time in the history of the United Nations after the Second World War, the president of a country that has a permanent membership in the Security Council and the right to veto it, is facing a sentence and criminal detention in the international criminal system; This indicates a structural change in the international law system.
Seyyed Nasrollah Ebrahimi—Associate Professor, College of Law and Political Sciences, University of Tehran

Dr. Kharazi’s met Najib Miqati

Strategic Council Online: Dr. Seyed Kamal Kharazi, the president of the Strategic Council on Foreign Relations, on the last day of his stay in Beirut, met with Mr. Najib Mikati, Acting Prime Minister of Lebanon.

Loading

Últimas publicaciones

West’s Strategy to Contain China

Strategic Council Online – Opinion: Banning the use of the Chinese application TikTok in Britain, for security reasons, is considered the last reaction of the West to China’s influence and global power-building.
Hossein Sayyahi – International politics researcher

An analysis of the political weighing process in the recent G20 summit

Strategic Council Online-Interview: An expert on European issues stated that the recent G20 summit was a demonstration of the alignment of the great and emerging powers of the world after Russia attacked Ukraine, adding that what happened in this summit demonstrated the transparency of the policies announced and applied by the members and during the summit some countries had to choose either to stand by Russia and against the West or this country.

Iran’s Defense Diplomacy, Marine Security Belt Exercise 2023

Strategic Council Online – Interview: The commander of the strategic naval forces of the army said that the 2023 marine security belt joint exercise would help to develop cooperation between the naval forces of Iran, China, and Russia, as well as increase the readiness to provide maritime security and safety jointly in line with creating peace and regional stability, announced the efforts being made to have the countries of the region participate in a marine belt exercise as well as the cooperation of the commanders of the Indian Ocean Naval Forces Symposium (IONS) for the following year.

Analysis of Iraq – Germany Energy Agreements

Strategic Council Online – Opinion: While preliminary agreements have been made regarding the export of oil and gas to Germany and Europe, Baghdad will face great challenges in realizing its ambitious goals.
Pouria Nabipour – PhD in political science and international relations

An analysis of the ineffectiveness of the international law system

Strategic Council Online—Opinion: On March 17, 2023, the International Criminal Court issued an arrest warrant for Vladimir Putin, the President of Russia, and for the first time in the history of the United Nations after the Second World War, the president of a country that has a permanent membership in the Security Council and the right to veto it, is facing a sentence and criminal detention in the international criminal system; This indicates a structural change in the international law system.
Seyyed Nasrollah Ebrahimi—Associate Professor, College of Law and Political Sciences, University of Tehran

Dr. Kharazi’s met Najib Miqati

Strategic Council Online: Dr. Seyed Kamal Kharazi, the president of the Strategic Council on Foreign Relations, on the last day of his stay in Beirut, met with Mr. Najib Mikati, Acting Prime Minister of Lebanon.

Loading