The main elements of the trade deal, which could provide a template for future deals, were agreed this week and cover market access for services professionals, tariff-free goods, a cap for 15 years on tariff-free agricultural products and more work visas for people under the age of 35. A final agreement in principle will be published in the coming days. Trade between the UK and Australia is currently worth just £13.9bn and £5.4bn worth of services but the deal is seen as a gateway to the UK joining the Trans-Pacific Partnership.
Law Society president I Stephanie Boyce said the deal could create opportunities for legal professionals.
‘The two countries already have a strong foundation given the long-standing relationship between Australian and the UK legal regulators, representative bodies and professionals,’ she said.
‘However, there are still practical barriers that prevent the realisation of the full benefit of trade in legal services between our countries. These difficulties increase costs for clients; limit international opportunities for local lawyers; and reduce the skills transfer and contribution to the local market, particularly for those without the support of larger organisations.
‘Before the negotiations, we were clear that it would be beneficial for the legal sector to have a greater variety of business structures—such as the UK LLP—available in both jurisdictions, greater recognition of professional qualifications, regardless of route to qualification and without need for additional study, as well as increased mobility options.
‘On the free flow of data provisions and the ban on data localisation, we urge the UK government to consider the specific characteristics for legal services. Legal professionals follow their own professional obligations.
‘It is important that personal data processed by law firms are well-protected and that the fundamental rights of client confidentiality and legal professional privilege (LPP) are safeguarded in such trade agreements.’
