"Australia and the EU are on the brink of striking a long sought after free trade agreement, with both sides talking up significant progress during talks in Brussels overnight. Ahead of a planned visit to Australia by European Commission president Ursula von der Leyen, due within months, a joint statement issued after the latest talks attended by the trade minister, Don Farrell, signalled major progress. The two sides said they had been able to converge on key differences which have dogged the deal for years."
"Major sticking points have included the right of Australian farmers and food producers to use product names such as prosecco, parmesan and feta on locally made products, and Australia's luxury car tax, which affects sales for European manufacturers including BMW and Mercedes-Benz. Farmers in the 27-member bloc are also concerned about greater imports of Australian beef and lamb, one of the last major hurdles to an agreement."
Negotiators reported major progress in Brussels talks, with Australia and the EU converging on long-standing disagreements that stalled negotiations in 2023. A planned visit to Australia by European Commission president Ursula von der Leyen is expected within months, and the deal could be signed as soon as this month. Key sticking points have included use of geographic and generic product names such as prosecco, parmesan and feta on Australian-made products, Australia's luxury car tax affecting European manufacturers, and EU farmers' concerns about increased imports of Australian beef and lamb. Australia insists any agreement must deliver improved agricultural access and clear national economic benefits.
Read at www.theguardian.com
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