The announcement that the Federal Government has commenced negotiations on a bilateral free trade agreement (FTA) with the United Kingdom has the potential to offer a range of opportunities for the Australian legal profession.
Law Council President, Pauline Wright, said that an FTA will further strengthen the ties between our two nations, with the potential to benefit both countries.
“Our legal system is intricately linked with that of the United Kingdom, and we share a commitment to the rule of law and to an open and rules-based system of international trade,” Ms Wright said.
“While Australian lawyers presently enjoy good access to the UK legal services market, there is still room to improve market access and deliver a best practice framework to support transnational practice and trade in legal services – including by promoting mutual recognition and limited liability partnerships.
“Removing restrictions on trade in legal services would better facilitate and underpin two-way trade across all goods and services sectors. Therefore, strong and meaningful market access commitments for providers of legal services must be a priority,” Ms Wright said.
“The Law Council looks forward to actively engaging with the Government throughout the FTA negotiation process, with a view to achieving strong trade outcomes for Australian legal practitioners and law firms.”
