When Australia and the UK began discussing a free trade agreement in 2020, they issued a joint statement with remarkably similar objectives. It now seems that a meeting of minds is imminent.
The countries’ shared language, history and similar legal systems mean a deal should be relatively easy to finalise. It will also be highly significant, seen by the UK as a key step towards accession to the influential Comprehensive and Progressive Trans-Pacific Partnership, a group of 11 Pacific Rim countries representing 13% of global GDP.
So far, selling the free trade agreement (FTA) to the British public has been fairly painless, with predictions of UK exports to Australia increasing by up to £900 million per year. The deal should also create welcome opportunities for British firms through improved access to fast growing Asian markets such as Vietnam and China.
PETALING JAYA: Malaysia’s economic performance depends largely on internal and external factors, and not only on how the Covid-19 pandemic and the mov.
Monday, May 17, 2021
On May 11, 2021, the European Parliament issued a press release requesting that the European Commission amend its draft decisions on UK adequacy to more closely align with EU court rulings and the opinion of the European Data Protection Board (“EDPB”). The request came after the Parliament’s Civil Liberties Committee (the “Committee”) passed a resolution evaluating the Commission’s approach regarding the adequacy of the UK’s data protection regime. The Members of European Parliament (“MEPs”) stated that if the Commission’s implementing decisions are adopted without amendment, transfers of personal data to the UK should be suspended when there is the potential for indiscriminate access to personal data.