Britain and Australia have agreed on a free trade deal that would eliminate tariffs on a wide range of goods.
The deal is coming as the U.K. seeks to expand links around the world following its exit from the European Union (EU).
The pact is expected to boost exports of traditional British products such as Scotch whisky, while boosting imports of lamb and wine from Australia.
Britain will also reduce barriers to trade in financial and other services.
The U.K. hopes the deal will help it join the trans-Pacific trade partnership, which would open the door to increased trade throughout the Asia-Pacific region.
It is the first trade deal Britain has negotiated from scratch since it left the EU. Earlier deals with countries including Japan and Canada were built on existing agreements struck by the EU.
British Prime Minister Boris Johnson with his Australian counterpart Scott Morrison highlighted the benefits each country would receive from the deal and stressed the long ties between the two nations.
“This is an ambitious free trade agreement,” Morrison said. “This is not a standard cookie-cutter agreement. This is an agreement with great ambition for both countries.”
