CANZUK: The block waiting to happen!
The UK should negotiate trade talks with Australia and New Zealand simultaneously. The reason why: Australia and New Zealand already share a strong bilateral partnership called the 'Closer Economic Relations Trade Agreement' or CER.
The Australia - New Zealand Closer Economic Relations Trade Agreement (known as ANZCERTA or the CER Agreement) is one of the most comprehensive bilateral free trade agreements in existence. It covers substantially all trans-Tasman trade in goods, including agricultural products, and was the first to include free trade in services.
The Agreement's central provision is the creation of a World Trade Organization (WTO)-consistent Free Trade Area encompassing Australia and New Zealand.
Key interests and benefits
All tariffs and quantitative import or export restrictions on trade in goods originating in the Free Trade Area are prohibited under ANZCERTA.
Contains measures to minimise market distortions in trade in goods, including through domestic industry assistance and export subsidies and incentives.
The harmonisation of Trans-Tasman food standards through the Australia New Zealand Food Authority (ANZFA) Agreement of 1995 means lower compliance costs for industry, fewer regulatory barriers, and more consumer choice.
Mutual recognition of goods and occupations removes technical barriers to trade and impediments to the movement of skilled personnel between jurisdictions without the need for complete harmonisation of standards and professional qualifications.
The Protocol on Investment to ANZCERTA entered into force on 1 March 2013. Under the Protocol investors in both countries benefit from lower compliance costs, higher screening thresholds and greater legal certainty when investing in their Trans-Tasman neighbour. Two-way investment between Australia and New Zealand is worth more than $130 billion (2014).
If the UK were to successfully negotiate it's way into the CER: ANZUK would be born. Foreign and Defence Policy Cooperation could easily follow as would inviting Canada to join.
Thus, creating a superpower block that spans the globe. The 5 Eyes would become the 2 Eyes and the alliance may even be eligible to join USMCA (The New NAFTA).
The alliance would have NATO membership and a permanent seat at the UN Security Council. Partnership would benefit all four parties, seriously elevating their current individual world standing. #CANZUK
Four Nations Under One Crown Working Together!