Canberra, Nov 18 (IANS): The Australian Parliament is set to ratify the free trade agreement (FTA) with the UK after a key committee approved it.

The Joint Standing Committee on Treaties has released its report on the FTA, concluding it would help Australia liberalise and diversify its trade with the UK, reports Xinhua news agency

Under the deal, which the two countries signed in 2021, 99 per cent of Australian goods including beef, dairy and sugar will enter the UK duty free.

Prime Minister Anthony Albanese met his British counterpart Rishi Sunak to discuss the deal on the sidelines of the G20 Summit in Indonesia this week and said he was hoping it would come into effect in the first quarter of 2023.

Don Farrell, Australia's trade minister, said that Parliament will vote to ratify the deal before the end of November, with the Opposition expected to offer "full support".

In addition to liberalizing trade, Farrell said the Australia-UK FTA includes measures designed to increase the mobility of skilled workers and young people in both directions.