The European Union and Australia resumed efforts to conclude a free trade agreement. 23 March President of the European Commission arrives in Canberra Ursula von der Leyen for negotiations with the Australian government.
Negotiations in Canberra
Ursula von der Leyen arrives in Australia on 23 March for meetings with the Prime Minister Anthony Albanisi and other government officials. The visit is aimed at resuming negotiations on a free trade agreement between the EU and Australia.
Negotiations had been ongoing for six years, but were suspended in 2023 due to disagreements over access to the agricultural market. The parties expressed their readiness to find a compromise to complete the agreement.
Positions of the parties
The EU is seeking to expand economic cooperation with Australia and strengthen supply chains for critical minerals. Australia is interested in better access to the European market for its agricultural products.
After the meeting, von der Leyen said that the EU and Australia have a “historic chance” to sign an agreement. Albanese said Australia was ready for a constructive dialogue.
Context.
Negotiations on a free trade agreement between the EU and Australia began in 2018. In 2023, the negotiations were halted due to disagreements over exports of meat and other agricultural products.
The EU is Australia's third largest trading partner. According to the European Commission, the volume of bilateral trade in 2022 was more than €60 billion.
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