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Australia, EU Conclude Free Trade Deal NegotiationsーNHK WORLD-JAPAN NEWS

Australia and the European Union announced Tuesday that negotiations on a comprehensive free‑trade agreement, launched in 2018, have been concluded. Prime Minister Anthony Albanese and European Commission President Ursula von der Leyen held a joint news conference in Canberra to unveil the Australia‑EU Free Trade Agreement. The pact will remove more than 99% of tariffs on EU‑origin goods entering Australia, with immediate duty‑free access for wine and chocolate and a phased elimination of dairy duties. In return, the EU will abolish tariffs on Australian energy and resource exports, including critical minerals, opening a market of roughly 450 million consumers and delivering an estimated $10 billion boost to the Australian economy each year. Officials framed the deal as a counter‑weight to a world “deeply changing,” where great powers use tariffs as leverage. As von der Leyen put it, “open, rules‑based trade delivers positive outcomes,” underscoring the political intent to reinforce multilateral commerce amid rising protectionist trends. For Australia, the agreement diversifies export destinations beyond China and strengthens its position in the global minerals supply chain. For the EU, it secures reliable sources of energy and critical raw materials, while both blocs signal a commitment to liberal trade rules that could shape future negotiations with other partners.