A month ago Australia and the EU failed to reach a deal. Australia’s Trade Minister Don Farrell and EU Commissioner for Trade Valdis Dombrovskis will meet in a teleconference today to reboot talks.
Sticking points include access for Australian agricultural
products, particularly beef, to EU markets.
For its part, the EU is keen to diversify trade. EU flows have been negatively affected by the Russian invasion of Ukraine and the protracted war that has ensued.
A free trade agreement would also simplify
European investment in Australia’s critical minerals
sector, in part by smoothing access through mandatory Foreign
Investment Review Board (FIRB) screening.