Australia and the European Union resume free trade talks today in a video conference between Australian Trade Minister Don Farrell and EU Trade Commissioner Valdis Dombrovskis. A month ago, previous negotiations yielded nothing.
The main differences of opinion between the two continents are about access of Australian agricultural products, specifically beef, to the European common market, prompting the country to break off previous talks in July.
Australia would like beef and lamb, dairy products and wine to have more access. At the moment there are still quotas and tariffs on the import of those products.
The EU, meanwhile, is trying to diversify its trade, as it is being affected by the war in Ukraine. Australian exports, meanwhile, are still hampered by a political dispute with China, which has banned a large number of agricultural products from that country in 2020.
Mining
A confidential source has confirmed to the British news agency Reuters that the video conference will take place on Thursday. Farrell said last week that he hopes for an improved proposal from the EU. The minister believes that an improved proposal could also have positive consequences for European investments in the Australian mining sector.
Australia exports about half of the world’s entire production of lithium, a metal of great importance to electric car production and the defense industry. It also produces other crucial so-called rare earth metals. China is a major producer of the latter, but countries around the world are trying to reduce dependence on that country.
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