EU AND AUSTRALIA STRENGTHEN COOPERATION ON TRADE
On 24 March, the European Union and Australia concluded negotiations on a comprehensive Free Trade Agreement (FTA), aimed at strengthening economic cooperation and reinforcing supply chain resilience.
The FTA is expected to open new opportunities for European businesses by removing over 99% of tariffs on EU exports to Australia and improving access to services and public procurement markets. The agreement also includes provisions facilitating data flows and reducing administrative barriers, supporting more efficient and predictable trade operations.
The FTA is particularly relevant for supply chains, as it strengthens cooperation on critical raw materials, contributing to improved resilience of EU value chains against external disruptions. In addition, the agreement reflects the growing importance of digitalisation in logistics and trade, with measures supporting interoperable systems and more efficient customs and administrative processes. This is expected to benefit transport and logistics operators by reducing complexity and improving transparency in cross-border operations.
Following the conclusion of the negotiations, the agreement will have to undergo legal finalisation and be ratified by both parties.
The Commission has also published a questions and answers document on the FTA, which can be accessed here.
Source: European Commission