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Brexit’s final form increasingly important for Australia

Brexit’s final form increasingly important for Australia

Australia : International economists and market traders are becoming increasingly uneasy with the way global trade is heading.

A trade war between the world’s two largest economies is clearly escalating.

Meanwhile, Britain’s Prime Minister Theresa May is negotiating an extraordinary political labyrinth in what’s being seen as a vain attempt to produce a soft exit from the European Union.

As a mid-sized, highly trade-exposed economy, Australia is very exposed to any downturn in global trade.

However, Australia’s Trade Minister Steve Ciobo has downplayed the risk, citing a range of free trade agreements with other partners signed over recent years.

“I’m concerned but I’m not alarmed,” he told RN Breakfast.

“This is precisely the reason why the Turnbull Coalition Government has focused very strongly on opening up market opportunities.”

Media player: “Space” to play, “M” to mute, “left” and “right” to seek.
AUDIO: Australia will continue to pursue new trade deals despite global tensions (Breakfast)
Mr Ciobo is currently in London to open discussions around a potential post-Brexit free trade agreement with the UK.Australia is also in the early stages of free trade negotiations with the European Union.