EU and Australia launch talks for a broad trade agreement
Today, Commissioner for Trade Cecilia Malmström, together with Prime Minister of Australia Malcolm Turnbull and Australian Trade Minister Steven Ciobo, officially launched negotiations for a comprehensive and ambitious trade agreement between the EU and Australia in the Australian capital of Canberra.
The aim of the negotiations is to remove barriers to trade in goods and services, create opportunities for small and large companies, as well as setting ambitious rules in line with other trade agreements of the EU, contributing to shape global trade. Commissioner for Trade Cecilia Malmström said: “I look forward to adding Australia to our ever-expanding circle of like-minded trade partners. In challenging times, it is heartening to see that Australia shares our commitment to a positive trade agenda, and to the idea that good trade agreements are a win for both sides. The result of our negotiations will be an agreement that offers clear benefits for both the EU and Australia. It will boost economic opportunity for businesses, both big and small, and create jobs. Following today’s announcement, the first formal round of talks between the respective sides’ teams of negotiators will take place in Brussels from 2 to 6 July. Australia is one of the world’s fastest-growing developed economies. The future EU-Australia agreement will let European companies compete on a level playing-field with businesses from those countries with which Australia already has trade agreements. The EU is already Australia’s second biggest trade partner. Bilateral trade in goods between the EU and Australia reaches almost €48 billion a year and increase by over a third thanks to the agreement. Bilateral trade in services is around €28 billion. Information about the negotiations, including factsheet, examples of exporters, statistics and other material, is available online. See also the full press release and the related videos and photos.