The European Union and Australia have finalised a Free Trade Agreement and signed a Security and Defence Partnership following a leaders’ summit in Canberra between Commission President Ursula von der Leyen and Prime Minister Anthony Albanese.
The trade deal, years in the making, is expected to reduce tariffs across a range of goods and services, opening market access in sectors such as dairy, vehicles, chemicals, wine, and seafood. It also facilitates EU access to Australian critical raw materials including lithium and aluminium. The Security and Defence Partnership extends cooperation into areas such as cybersecurity, maritime security, and countering hybrid threats.
The agreements reflect both parties’ broader efforts to diversify trade relationships and strengthen ties with like-minded partners.
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