Australia, EU agree sweeping new trade pact eight years in the works
CNA
CANBERRA: The European Union and Australia struck a long-awaited free-trade deal on Tuesday (Mar 24), while also agreeing to boost defence cooperation and access to crucial rare-earth minerals in the face of global uncertainty over trade.EU chief Ursula von der Leyen's visit to Australia comes as the 27-natio
CANBERRA: The European Union and Australia struck a long-awaited free-trade deal on Tuesday (Mar 24), while also agreeing to boost defence cooperation and access to crucial rare-earth minerals in the face of global uncertainty over trade.
EU chief Ursula von der Leyen's visit to Australia comes as the 27-nation bloc and the import-reliant nation navigate renewed energy vulnerability sparked by the war in the Middle East.
The accord is the latest agreed by Brussels in a push to diversify trade as Europe faces challenges from the United States and China.
Key sticking points on Australian use of European geographical names, as well as how much beef can be exported to the continent, were overcome to reach the deal after eight years of negotiations.
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Only vehicles from model year 2015 and earlier, traditional jeepneys, power plants and generators, and the marine and shipping sectors would be allowed to use Euro-II compliant petroleum products.
Only vehicles from model year 2015 and earlier, traditional jeepneys, power plants and generators, and the marine and shipping sectors would be allowed to use Euro-II compliant petroleum products.