UK-Australia trade deal after Brexit ‘is not a substitute for the EU’, warns former Australian PM Malcolm Turnbull Malcolm Turnbull said a UK trade deal with Australia would not replace the benefits of being inside the world’s largest trading bloc

Former Australian Prime Minister Malcolm Turnbull has said a UK trade deal with his country is “not a substitute” for EU membership, and warned Britain is casting itself away from the bloc at a time of “rising protectionism”.

Boris Johnson is hoping to gain momentum in trade talks with other countries after January, when discussions will begin with Brussels over the UK’s future trading arrangements starting next year.

Mr Turnbull, who was PM in Australia until 2018, said on Tuesday that while a trade deal could be struck between the UK and its former colony, this would not replace the benefits of being inside the world’s largest trading bloc.

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‘Not a substitute for the European Union’

He told the BBC’s Newsnight programme: “The reality is that half of your trade more or less goes to the European Union. Britain’s trade with Australia is a very small percentage, as indeed it is with Canada and other countries in the Commonwealth.

“We in Australia wish Britain the very best. We are great friends. When I was PM when the Brexit vote was carried, I immediately said to David Cameron and then to his successor, Theresa May, ‘We will do a free trade deal with you. We look forward to it’,” he said.

“But it’s not a substitute for the European Union. I mean that the problem that Britain faces today is is simply this: in an age of rising protectionism, the United Kingdom has chosen to walk out of the biggest free trade area in the world.

“And its economic prospects, its trade prospects, now depend on cutting new and better deals with a whole range of countries, not least of which of course, is the EU itself. So it’s a challenging time for you,” he added.

‘We will not be rule takers’

Chancellor Sajid Javid warned again on Tuesday that the UK will not align with EU after Brexit, which the EU says will mean a looser agreement and restricted access to its markets.

Speaking in Brussels during a final meeting with his European counterparts, Mr Javid said: “In the meeting today I will also be expressing my appreciation for all the many things we have achieved together, and also a reassurance that we will remain close partners and friends. As we look ahead, the UK will be leaving the EU with confidence and thinking about all the exciting opportunities that lie ahead.

“We’ve been very clear now for many months. And of course in our recent election as well, as we leave the EU we will not be in the single market. We will not be in the customs union. And we will not be rule takers. At the same time, of course, we want a deep comprehensive free trade agreement, and that’s what we’re working on.”

Mr Javid added: “As we leave the EU we will have the opportunity to strike new trade deals with our friends and partners across the world.

“This is a huge opportunity for Britain, especially with so many of our businesses having fantastic trading relationships abroad. The Trade Bill, which was announced in the Queen’s Speech, will help make this opportunity a reality.”