Australia to prioritize reviving FTA talks with EU at G20 summit

Australia’s Assistant Trade Minister, Tim Ayres, has emphasized the importance of revitalizing discussions about a free trade agreement (FTA) with the European Union (EU) during the G20 trade and investment ministerial meeting.

Ayres expressed his concern that EU representatives have not offered enough while demanding too much in the negotiation process.

These talks came to a halt in July due to a disagreement regarding Australian agricultural exports’ access to the expansive EU market.

As Australia’s representative at the G20 trade and investment ministerial meeting, Ayres will meet with his European counterpart to address this issue. He indicated that substantial modifications to the EU’s meat import quotas would be necessary for a viable agreement to be achieved.

Despite the current disagreement, officials from both sides remain hopeful about reaching a resolution. Don Farrell, the trade minister, stated in July that reaching an agreement would require goodwill, diligent effort, and perseverance. Annalena Baerbock, Germany’s foreign affairs minister, echoed this sentiment and urged both parties to work toward finalizing the FTA during a webinar held by the Australian think tank, the Lowy Institute.

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