President of the EU Commission Ursula von der Leyem visited Australia and addressed its Parliament to sign a Free Trade Deal which will slash tariffs on most Australian and EU products to 0%. The treaty will be ratified in the coming months with full implementation being planned for 2027. This was the first visit of an EU Commissioner President to Australia in ten years and the first time that the Australian Parliament was addressed by an international leader who is a woman.
The usual exceptions with regard to agriculture and steel have remained in the FTA with both sides making exceptions for agriculture products. Australian beef and lamb exports to the EU will be limited to a quota.
Prime Minister Anthony Albanese welcomed the EU Commissioner President and said that Australia’s strengthened partnership with Europe will bring more prosperity for future generations.
In her speech to the Australian Parliament, the EU Commission President said that the EU aims to become the second biggest trading partner of Australia with this free trade deal.
The EU and Australia also signed a joint-defence and security agreement which underlines collaboration in maritime security, counter-terrorism, cyber-security and hybrid-threats. Australia will also join the Horizon Europe research programme.
In a joint statement, the EU Commissioner and the Australian Prime Minister reaffirmed the EU’s and Australia’s joint-partnership underpinned by democratic values and the respect to international law.
You can also watch the Commissioner President’s speech here.
This is just one of the latest trade deals the EU is signing in a string of international trade deals.
Newsroom
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