Australian Trade Agreement With Eu

Britain`s efforts for its future trade relations with the EU have been gradually mitigated due to differences of opinion between the two sides during the often difficult negotiations that followed the UK`s withdrawal from the EU on 31 January. Australia`s foreign and trade ministries cite other benefits of an agreement, such as reducing bureaucracy and aligning with the EU`s high standards for sustainable development. The EU and Australia have concluded negotiations for a political framework agreement with a number of economic and trade cooperation agreements. Join Australia`s Ambassador to the EU, negotiators from the AUSTRALIAN EU CHEF and Austrades General Manager Europe to discuss the status of the agreement and the benefits to the Australian economy. Also listen to 2M Language Services and Buderim Foods Pty Ltd (Buderim Ginger) to share their knowledge of navigation across the EU. There is a mutual recognition agreement between the EU and Australia to facilitate trade in industrial products by removing technical barriers. The agreement establishes mutual recognition of compliance assessment procedures. This reduces the testing and certification costs of exports and imports. In the case of Australia, the absence of an EU trade agreement means that the WTO conditions, which impose a large number of restrictions, are due. That`s why Australian exporters are backing Canberra`s move to conclude a new free trade agreement with Brussels so they have the security they need to invest and plan. These are concerns such as those that prompted Australia to enter into negotiations with the EU in 2018 in an attempt to reach an “ambitious and comprehensive” free trade agreement. “An agreement on the model of Australia would give us full control over our laws, rules and fishing waters, as well as the freedom to conclude free trade agreements with other countries around the world.” But the impact of an inconclusive agreement for the UK would not be limited to trade in goods.

No agreement would mean that all formal bilateral relations with the EU will be severed in January 2021, including in other crucial areas such as judicial and police cooperation. The concept of Australian-style Brexit was used in Prime Minister Boris Johnson`s speech in Greenwich in February 2020.

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