EU FTA one step closer following trade talks in Brussels

Newly-minted Minister for Agriculture Bridget McKenzie travelled to Europe last week to build stronger ties with major trading partners and hold discussions on the proposed Free Trade Agreement (FTA) with the European Union (EU).

Australia and the EU launched negotiations for the EU-FTA this time last year, with the aim of securing better market access for Australian producers in the EU, which is currently Australia’s fourth largest export destination, worth $3.3 billion to the national economy.

“This is an opportunity to champion Australian agriculture in the EU, strengthen our agricultural and trade relationships and ultimately support jobs and economic growth in rural and regional Australia,” said Minister McKenzie.

During the trip, discussions will be held with key officials in Brussels, so that progression on the EU-FTA can continue following the third round of formal negotiations in Canberra in March this year.

“The EU-FTA can open up lucrative premium markets, ensuring our farmers get a premium price for our clean and green produce,” said Minister McKenzie. “Trade is central to Australian agriculture continuing to succeed and to meet the goal of growing to a $100 billion industry by 2030.”

A fourth round of formal negotiations will be held in July.

The EU-FTA will support the existing trade agreements Australia currently has with China, Japan, the Republic of Korea, New Zealand, Singapore, Thailand, US, Chile, Malaysia and Canada and Mexico (through the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP).

Fore more information on FTAs, check out the Department of Agriculture’s website by clicking here.