AgriThinking: Brexit – Agricultural aftershocks or opportunity for Australia?

By Ramon Garcia-Gallardo, Coral Garcia Guadix and Scott Bouvier.

The proposed exit of the UK from the EU brings many associated uncertainties, especially in relation to the timing of the breakup, and the future UK-EU arrangements that may be put in place in advance of the split occurring. For the UK to leave the EU it has to invoke an Article 50 of the Lisbon Treaty, which gives the UK and EU two years to agree the terms of that split.

Nevertheless, it seems likely that the UK’s dependence on agricultural imports from the EU will be reduced due to trade barriers, and this will open up opportunities for other nations to export agricultural products to the UK.

In the case of Australia, however, the UK currently accounts for only approximately 1.5% of Australian agricultural exports, and it seems unlikely that even in the post-Brexit era, this will increase to any great degree.

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