CANBERRA- Australia's Parliament is set to ratify the free trade agreement (FTA) with Britain after a key committee approved it.

The Joint Standing Committee on Treaties on Thursday released its report on the FTA, concluding it would help Australia liberalize and diversify its trade with Britain.

Under the deal, which the two countries signed in 2021, 99 percent of Australian goods including beef, dairy and sugar will enter Britain duty free

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

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

Don Farrell, Australia's trade minister, said that the 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.