EU and Australia Conclude Trade Deal After Eight Years of Talks
Story Summary
The agreement would remove tariffs on EU exports to Australia, deepen services access and move next into legal review and domestic ratification.
CANBERRA, Australia ? The European Union and Australia concluded negotiations on a free trade agreement on March 24, ending an eight-year bargaining process and opening the way for tariff cuts, expanded services access and new digital trade rules.
The European Commission published the text of the agreement after announcing that the negotiations had concluded, while noting that the document still faces legal and linguistic revision before signature.
In a chapter-by-chapter summary, the Commission said Australia will eliminate tariffs on EU exports and that the deal covers goods, services, investment, procurement, digital trade, energy and resources, sustainable development and small-business provisions.
The trade breakthrough quickly spilled into other policy areas. EURAXESS reported that the two sides also moved to begin negotiations for Australia to associate with Horizon Europe, the EU's flagship research programme, while also welcoming a new EU-Australia security and defence partnership.
The deal still requires domestic approval processes on both sides, but concluding the talks ended years of uncertainty over whether Brussels and Canberra could close the gap on agriculture, market access and standards.