At 11pm GMT 31 January 2020 (10am AEDT 1 February), the United Kingdom (UK) formally ceased to be a member state of the European Union (EU) – commonly known as ‘Brexit’.
The UK and EU are currently in a transition period until 31 December 2020. During this period the current UK-EU trading arrangements continue.
The Australian Government is closely monitoring any potential impacts on Australian business flowing on from the UK’s departure from the EU and continues to work to:
- assess the implications for Australia,
- ensure risks are addressed, and
- identify opportunities to enhance our relationships with the UK and EU, including through negotiating comprehensive and ambitious free trade agreements with the UK and the EU respectively.
Australian Government Brexit guides
The Department of Foreign Affairs and Trade Brexit guide outlines:
- what Brexit means for Australian businesses
- what the Australian Government is doing to protect our interests
Austrade’s Brexit guide helps businesses prepare and covers:
- business risks and intellectual property protection
- tariffs and regulations
- taxation and import duties
- UK market profiles.
Australian businesses and individuals should continue to consider how post-Brexit changes to the UK and EU’s relationship could affect them, and take steps to mitigate this risk. To prepare for all scenarios, consider if it is appropriate to:
- seek legal advice
- engage a migration agent, customs broker, freight forwarder or logistics provider to support preparations.
UK and EU Brexit guides
- The UK Brexit guide helps businesses in the UK prepare for all scenarios.
- The European Commission publishes preparedness notices for different industries.
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- Australia’s Mutual Recognition Agreements with the EU and UK.