Free-Trade Agreement Talks Between Australia and EU Remain Unresolved
Free-Trade Agreement Talks Between Australia and EU Remain Unresolved
Negotiations between Australia and the European Union (EU) to finalize a free-trade agreement did not reach a successful outcome during meetings in Japan over the weekend, according to Australian Trade Minister, Don Farrell.
In a statement released on Monday, Farrell expressed his disappointment, stating, "I came to Osaka with the intention to finalize a free-trade agreement with the European Union. Unfortunately, we have not been able to make progress." Despite this setback, Farrell remains hopeful that a deal can eventually be reached.
The negotiations between Australia and the EU began in 2018, recognizing the significant economic relationship between the two parties. Currently, the EU stands as Australia's third-largest trading partner.
Farrell's previous visit to Brussels in July aimed to break the deadlock in talks, focusing on issues related to food products and critical minerals. However, no compromise could be reached at the time. Farrell highlighted the importance of establishing a trade deal between "like-minded partners" amidst rising geopolitical uncertainties.
The negotiations will continue, although no specific timeframe has been given for further discussions.
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