The British Footwear Association (BFA) is discussing new opportunities with its members in the Australian footwear market following last month’s announcement of a UK-Australia Free Trade Agreement.

The newly negotiated trade agreement is the first to complete since the UK departed from the EU. It is being viewed as a positive sign of further deals to come, including a new agreement with India.

The UK-Australia Free Trade Agreement formally removes tariffs on £4.3 billion of UK exports, including footwear.

It also outlines procedures for digital trade and innovation that will benefit both countries. British footwear manufacturers will benefit from cheaper imports of vital materials from Australia, too.

Commenting is Lucy Reece Raybould, chief executive officer of the BFA. “This is a great opportunity for BFA members to explore a market that admires British quality products, appreciates British style, and shares similar values in terms of quality manufacturing.

“I would advise all BFA members – and those in the wider footwear sector – to read up on the benefits of the UK-Australia Free Trade Agreement. Begin exploring this market as a potential for business growth, innovation and opportunity.”

British businesses already operating in Australia may also benefit from digital progress made by the “gold standard deal”.

This includes the world’s first-ever ‘innovation chapter’ to save UK businesses from the cost of establishing servers in Australia; all while maintaining the free flow of data to stringent personal data protection standards.

Elsewhere, the deal should slash red tape for entrepreneurs and small business owners. This includes the 13,000 SMEs across the UK who already export to Australia.

According to the Department for International Trade (DIT), this will “deliver quicker export times and ensure small businesses have access to new intelligence that will better allow them to seize the opportunities created by the deal”.

The BFA is now welcoming dialogue among its members focusing on new ways of capitalising on the deal; working with Australian suppliers, and finding new avenues for British footwear manufacturers and brands to sell their products ‘Down Under’.

To facilitate this, a special webinar in the BFA’s ‘Going Global’ series will focus on Australia.

Taking place on 21 July 2021, the webinar will welcome Joanne Freeman, Consul General for Queensland and Northern Territory and Director for Trade, Australia and New Zealand, for an informative conversation about future opportunities for footwear businesses.