GABC welcomes conclusion of EU-Australia Free Trade Agreement

Speaking to members, Dr Sabine Pittrof and Dr Robert Harrison, Co-Chairs of the German Australian Business Council (GABC), welcomed today’s announcement of the successful conclusion of negotiations of the EU-Australia free trade agreement. “We have been following the negotiations intensely and made several submissions on the importance of the agreement for trade between our like-minded countries.” “The agreement represents a real opportunity to significantly increase trade between Australia and Germany, together with the other member states of the European Union,” they continued.

The European Union and the Australian Federal Government have been discussing free trade for many years. However, in the past few years, the geopolitical situation has changed and the need for agreements between like-minded partners has given the negotiations renewed urgency.

The free trade agreement builds on earlier agreements signed between the EU and its member states with Australia, such as the agreement on wine names, or agreements on cooperation in research and innovation. For Australia, the important aspects include an increased opening of the European markets to Australian agricultural products and the supply of raw materials. Europe will benefit, for example, from greater protection from the removal of many import tariffs for the import of industrial goods as well as foodstuffs and for the protection of names of agricultural products. A security and defence partnership has also been signed.

The Hon André Haermeyer, former Victorian State Government Minister and currently Board Member of the Business Council, concluded, “This is an agreement which many of us have sought for many years. It’s now incumbent on business and government to exploit the opportunities it will give to all sides.”

The Agreement will now be translated into the official languages of the EU and formally adopted by both sides.

Press Release – German: Official Press Release_DE

Press Release – English: Official Press Release_ENG