Australia likely to be first new post-Brexit competitor for Ireland on UK market

'Ambitious' trade pact likely between Australia and the UK 

The UK has confirmed that the trade deal will see tarriffs and quotas on goods phased out over 15 years. File Picture. 

Farmers across the United Kingdom and Ireland are bracing themselves for an ambitious liberalising trade pact between Australia and the UK, its first major new trade deal since leaving the EU.

UK officials have confirmed that the trade deal to be offered to Australia would see tariffs and quotas on goods traded between the two countries phased out over 15 years.