LOC20:28
17:28 GMT
BRUSSELS, Feb 13 (KUNA) -- Trade negotiators from the European Union and Australia announced on Friday that "good progress" has been made in the ongoing talks in Brussels, as part of efforts to conclude a long-awaited free trade agreement between the two sides.
This came in a joint statement following a ministerial meeting held on February 12-13, which brought together European Commissioner for Trade and Economic Security Maros Sefcovic, Commissioner for Agriculture and Food Christophe Hansen, and Australia's Minister for Trade and Tourism Don Farrell.
The statement said the ministerial meeting was constructive and positive, contributing to narrowing differences on a number of issues, with tangible progress achieved in closing gaps on a limited number of outstanding matters. Officials will now report back to their leaders on the outcome of this round of talks.
It added that annual trade between the European Union and Australia exceeds EUR 87.5 billion; or more than 100 billion Australian dollars in goods and services, noting that reaching a high-quality and balanced agreement would strengthen the shared commitment to rules-based trade, high standards, and support prosperity and competitiveness for businesses across all sectors.
It is worth noting that negotiations between Brussels and Canberra collapsed in 2023 after five years of painstaking discussions over a wide range of issues, with terms for beef and lamb exports being the main obstacle to reaching an agreement.
The talks have focused on duty-free quotas for imported Australian beef, with the EU hoping to cap them at around 30,000 tonnes per year, while Canberra is seeking access for 40,000 tonnes. (end)
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