Potential Australia, EU trade partnership welcomed by meat industry
Australian trade minister Andrew Robb revealed earlier this week that Australia and the EU will begin procedures to secure the partnership.
The EU is to undertake an impact assessment on the merits of an FTA with Australia. Both parties will also complete a scoping exercise to define the overall approach to potential negotiations.
Trade exceeding $80bn
Currently, the EU is Australia’s second largest trading partner with two-way trade exceeding AU$80 billion.
The move has been welcomed by the Australian red meat industry.
“Enhancement of the Australia-EU trading regime, especially making it easier for Australian producers, processors and exporters to service the ongoing demand for beef and sheep meat products in the EU, would be a most advantageous outcome,” the chairs of the Australian red meat industry peak councils said.
‘Consistent quality’
“European consumers value Australia’s beef and sheep meat products for their consistent and predictable quality. With the EU being an importer of high quality food products, our industry is ideally positioned to help meet this demand.”
Australia’s current access to the EU for beef and sheep is restricted by low volume import quotas and high above quota tariff. An FTA will provide the opportunity to establish a trading regime - not only for Australian businesses but also for EU importers, wholesalers, distributors, foodservice and retail operators.
The commitment to the closer trade relations was made by Australian prime minister Malcolm Turnbull, EC president Jean-Claude Juncker and president of the EC Donald Tusk in the margins of the G20 Summit in Antalya, Turkey, which took place earlier this week.
