Posted by AdviserDirect on 03/15/2019

UK signs post-Brexit trade deal with Fiji and Papua New Guinea

UK signs post-Brexit trade deal with Fiji and Papua New Guinea

Britain has signed a post-Brexit trade deal with the Pacific islands of Fiji and Papua New Guinea, as the government rushes to sign as many agreements as possible before 29 March.

The Department for International Trade said the agreement would maintain access to goods including sugar and fish imported from the islands 10,000 miles away. Total trade between Britain and the region is worth about £369m a year.

Signed by the international trade secretary, Liam Fox, the deal eliminates all tariffs on all goods imported from Fiji and Papua New Guinea and will gradually remove around 80% of tariffs on UK exports to these countries.

It comes only a day after the government said it would slash tariffs to zero on the vast majority of imports to Britain under a no-deal Brexit, rendering the deal less significant for UK consumers.

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