Australia-EU ‘determined’ to seal trade deal: Farrell
Australia and the European Union have revived talks for a sweeping free trade agreement after Trade Minister Don Farrell met the European Commissioner for Trade Maroš Šefčovič in Paris.
The meeting on the sidelines of the OECD Ministerial Council Meeting comes amid the US’s Wednesday deadline for countries to send their best offer in trade negotiations.
Farrell met US Trade Representative Jamieson Greer in Paris on Tuesday (local time).
It follows criticism from Australia of US President Donald Trump’s move to double steel tariffs to 50 per cent from 25 per cent. Australia also wants a 10 per cent tariff on all its exports rescinded.
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“Both Australia and the EU recognise that now is the time to strengthen our economic partnership, and we’re working through the remaining issues to try and finalise the deal,” Farrell told Reuters.
A pact with the region was “about building economic resilience in a rapidly changing global environment”, he said.
Agriculture topped a list of outstanding issues for an EU deal that officials will work on, although Australian officials could not say when the pact would be agreed.
Australia has previously offered to put the removal of its luxury car tax on the table. In return, it wants greater access for lamb and beef exports to Europe.
The advantages of an EU deal include increased investment, stronger supply chain links, education ties and export opportunities, Farrell said.
