The European Union (EU) is a major player in international trade and commerce. It has many trade agreements with various countries around the world. One of the countries it has been negotiating a trade agreement with is Australia.
The EU and Australia have been in talks for a comprehensive trade agreement that would increase trade and investment between the two economies. This agreement would create opportunities for businesses from both sides to access new markets, boost economic growth, and create jobs.
The negotiations started in 2018 and are still ongoing. The EU and Australia have already exchanged offers on market access for goods, services, and investments. They have also discussed a range of other issues related to trade, including regulatory cooperation, intellectual property, and sustainable development.
The EU and Australia share similar values and have common interests in promoting free and fair trade. They have a long history of working together on global issues, such as climate change, and are committed to open and rules-based trade.
If the trade agreement is successful, it would be a major milestone for both the EU and Australia. The EU is Australia`s second-largest trading partner, and a trade deal would further strengthen their economic ties. It would also help Australia diversify its export markets beyond the Asia-Pacific region.
In conclusion, the EU and Australia are currently negotiating a comprehensive trade agreement that would increase trade and investment between the two economies. The negotiations started in 2018 and are still ongoing. If successful, the agreement would be a major milestone for both the EU and Australia, and further strengthen their economic ties.