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ABIE Submission on the EU FTA

Published on 03.07.2019 by Australian Business in Europe

The relationship between the European Union and Australia has been maturing over many years. The Australian federal Department of Foreign Affairs and Trade notes that, at present, Australia and the European Union (EU) launched negotiations for a free trade agreement (FTA) on 18 June 2018.

ABIE Submission on the EU FTA

The relationship between the European Union and Australia has been maturing over many years. The Australian federal Department of Foreign Affairs and Trade notes that, at present, Australia and the European Union (EU) launched negotiations for a free trade agreement (FTA) on 18 June 2018. As a bloc, the EU is Australia's second largest trading partner, third largest export destination, and second largest services market. The EU was Australia's largest source of foreign investment in 2017. (ref: https://dfat.gov.au/trade/agreements/negotiations/aeufta/Pages/default.aspx for your information).

 

Australia and the European Union are currently negotiating a free trade agreement to promote and increase open and sustainable trade, according to a rules-based international system.  On June 27, 2019, the network of Australian Business in Europe (ABIE) organizations made a joint submission to the Department of Foreign Affairs and Trade sharing experiences of members of the ABIE organizations undertaking business both in the EU and Australia.  The submission covered areas including labour mobility; trade in goods and services; e-commerce and digital trade; technical barriers to trade; intellectual property and energy and raw materials.  The initiative was led by Elisabeth Opie of the German Australian Business Council and Kelly Saunders of Australian Business in Europe France and received contributions from ABIE organizations across Europe.  Further details of the submission will be made public via the DFAT website in due course.

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ABIE Submission on the EU FTA

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In total trade and investment, Europe remains Australia’s largest economic partner, and Australia is for Europe a strong economic and like-minded partner, strategically located and deeply connected within the fastest growing economic region in the world. Australia and Europe share fundamental values and a common commitment to open, transparent and well-regulated markets, and of high levels of social and environmental protection.

Australian Business in Europe (ABIE) brings together multiple organisations representing Australian and Australian-interested organisations across Europe with the shared objective of growing and strengthening the trade, investment, business and diplomatic ties between the two regions.

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