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Australia, EU hold 11th round of FTA talks
Kind: ICD What's New  Organization: Department of International Cooperation  Publish Date: 2021-07-02 15:00
The 11th round of negotiations toward an Australia–EU free trade agreement were convened virtually from June 1 to 11.

The talks resulted in progress in most areas of the future pact, including services and investment, trade in goods, technical barriers to trade, intellectual property rights, and so on.

The Australian delegation was led by the Department of Foreign Affairs and Trade and included representatives from more than 10 government agencies.

The two sides initiated negotiations for an FTA in June 2018, after the Council of the EU in the previous month adopted the decision authorizing the launch of formal talks.

Currently, the two sides conduct their trade and economic relations under the 2008 EU-Australian Partnership Framework.

Last year, bilateral goods trade amounted to 36 billion euros (US$42.68 billion), while trade in services totaled 26 billion euros, making the EU Australia’s third largest trading partner globally.

The planned FTA is expected to boost EU exports to Australia by more than 30 percent, according to analysts’ estimates.

The 12th round of negotiations has been scheduled for Oct. 11-22 this year.

Sources: Australian Department of Foreign Affairs and Trade; European Commission
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Update: 2020-04-23
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