Australia-EU Trade Agreement

TheTurnbull Government welcomes the Council of the European Union agreeing to opennegotiations for a landmark job creating Australia-EU trade agreement.

We look forward to welcoming EU Trade Commissioner Malmström to Australia nextmonth to formally launch negotiations.

The Turnbull Government will seek an ambitious and comprehensive Free TradeAgreement (FTA) to drive Australian exports, economic growth and create newAustralian jobs.

We will be working to secure better access for Australian food and agricultureproducts, creating the framework for open, fair and equitable trade.

The Liberal National Government will also be working to lock in better accessfor Australian services exporters; expand two-way investment flows; and delivera more seamless business environment.

We willexplore rules and initiatives to support the digital economy and innovation,which are important for small and medium-sized enterprises (SMEs).

An FTA with the EU has the potential to set the benchmark for what can be achievedbetween like-minded partners. Australia and the EU share a commitment to therules-based global trading system and to open markets.

As a bloc, the EU is Australia's second largest trading partner; third largestexport destination; and second largest services export market. The EU wasAustralia's largest source of foreign investment in 2017.

An FTA with the EU will open up a market for Australian goods and services ofhalf a billion people and a GDP of US$17.1 trillion. It would potentially beAustralia's biggest FTA once concluded.

The Turnbull Government is pursuing Australia'smost ambitious trade agenda to open more markets, create a stronger economy andmore Australian jobs.