Brexit news latest: Australia to begin trade talks with UK 'as soon as possible'

Australia is set to begin trade talks with the UK “as soon as possible” after Brexit, the government has said.

The Department for International Trade confirmed that the UK and Australia will agree to begin talks when the UK leaves the EU, currently scheduled for October 31.

Australian prime minister Scott Morrison had already signalled his willingness to proceed with talks quickly, saying he believed a deal could be done within a year.

International Trade Secretary Liz Truss will meet her Australian counterpart Simon Birmingham and other senior politicians in the capital Canberra on Wednesday.

Ahead of the visit, Ms Truss said she wanted to see an "ambitious trade deal" which reduces tariffs and barriers for UK exporters. She added: "We cannot afford to wait. Britain is going to be ready to trade after Brexit.

"That's why I'm so pleased that today we are reaffirming our commitment to launch bilateral FTA (free-trade agreement) negotiations as soon as possible.

"It's good to see that Australia is going to be quick off the mark and it'll be mirrored by the UK under our new government - a government that takes action.

"A UK-Australia trade deal won't just be a good thing it'll be a great thing, for our businesses, for our consumers, for our workers and for our two great countries."

According to the Department for International Trade, the UK's trading relationship with Australia was worth £16.6 billion in the year to March 2019, with around 15,000 UK businesses exporting goods there.