Australia-European Union Free Trade Agreement
Australia and the European Union (EU) launched negotiations for a free trade agreement (FTA) on 18 June 2018. As a bloc, the EU is a massive, high-income market of almost 446 million people with a nominal GDP of US$16.6 trillion. As a bloc, it is Australia’s third largest two-way trading partner and second largest source of foreign investment1.
An ambitious and comprehensive FTA with the EU will assist with post-pandemic economic recovery by providing new opportunities in a highly significant market for Australian goods and services. It will provide Australian exporters with a competitive edge and more choices about where they do business. Australian consumers and companies stand to benefit through greater choice in goods and services at lower prices.
The FTA builds upon Australia and the EU’s natural partnership, arising out of a shared commitment to the rule of law, global norms and free and open markets. A strong EU is vital to Australian interests in protecting and promoting a rules-based international order. We want an FTA with the EU to set the benchmark for what can be achieved between like-minded partners.
The Department of Foreign Affairs and Trade (DFAT) welcomes submissions throughout the negotiations from interested individuals and groups on the potential opportunities and impacts of an FTA with the EU. Anyone who makes submissions will also be registered as a stakeholder by DFAT and advised about further consultations where appropriate. See our Submissions page for more information.
More details about the FTA's potential benefits
Australia's position in the world as a global top 20 trading nation is underpinned by our advocacy for an open global economy and by our FTAs, which reduce barriers to our trade and investment. Australia is seeking an ambitious and comprehensive FTA with the EU to drive Australian exports, economic growth and job creation.
More details about Australia's objectives
Summary of negotiating aims and approach
For more information on the prospective FTA, and on Australia's relationship with the European Union, see the following links:
- Summary of negotiating aims and approach
- Australia-European Union FTA Benefits fact sheet
- Australia-European Union FTA Objectives fact sheet
- European Union brief
- European Union trade and economic fact sheet [PDF]
1Trade statistics for FY 2021-22. Investment statistics for CY 2021. EU 27 excluding UK