Australia and EU Resume Ambitious Free Trade Agreement Talks
Australia and the European Union have revitalized discussions on a comprehensive free trade agreement, following meetings between Australia's trade minister and the European Commissioner for Trade in Paris. Agriculture remains a sticking point, with both parties aiming for strengthened economic partnerships amid global uncertainties.
In a significant development, Australia and the European Union have restarted discussions for a comprehensive free trade agreement, following a crucial meeting in Paris between Australia's trade minister, Don Farrell, and the European Commissioner for Trade, Maroš Šefčovič.
This meeting, held alongside the OECD Ministerial Council, underscores the pressing need for countries to finalize trade negotiations, highlighted by the U.S. imposing a strict deadline. During these high-stakes negotiations, Farrell also engaged with the U.S. Trade Representative, Jamieson Greer, to address contentious issues such as increased steel tariffs initiated by the U.S.
A key element in the EU deal hinges on agriculture, with Australia seeking greater access for its lamb and beef exports. The potential agreement promises economic resilience through enhanced investment, robust supply chains, and expanded export opportunities, according to Farrell.
(With inputs from agencies.)
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