Australia and EU’s Free Trade Negotiations Collapse

An Australian minister has expressed doubt that an agreement between the Australian government and the European Union (EU) can be negotiated any time soon. The breakdown in negotiations has occurred due to a failure to overcome obstacles. Australian Trade Minister Don Farrell attempted to secure a last-minute deal during a G7 meeting in Japan, but the talks were unsuccessful, leading to the deal remaining in limbo. Farrell stated that his aim is to secure the best deal for Australia’s producers, businesses, workers, and consumers, but unfortunately, progress has not been made. The Australian government had already prepared for a negative outcome and is willing to walk away from the agreement if it does not align with the country’s national interest. One of the main hurdles in the negotiations is the issue of geographical indicators, which the EU demands Australia protect. However, this would prevent local producers from using certain names for their products, imposing significant costs on Australian businesses. Agriculture Minister Murray Watt expects that negotiations will not resume before 2025, due to the EU’s upcoming election cycle, making it challenging to negotiate trade agreements.



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