EU, Australian Officials Work to Set Stage for Trade Talks’ Launch

Efforts continue apace for the expected launch of EU-Australia trade talks, with Australian Trade Minister Steven Ciobo in Europe over the past week to meet with EU Trade Commissioner Cecilia Malmström, as well as ministers from various EU member states, regarding the deal’s next steps. “An Australia-EU FTA will create new opportunities for Australian businesses; driving exports, economic growth and job creation. Launching negotiations will also send an important message to the world at a time of rising protectionism,” said Ciobo in announcing the trip. Officials from the Czech Republic, Hungry, Poland, and Slovakia reportedly lent their backing to the prompt launch of negotiations following meetings with the Australian trade chief last week, according to comments by Hungarian trade minister Peter Szijjarto. The Hungarian official called for the Council to sign off on the talks’ launch next month and for the negotiations to start shortly thereafter. Advocates for a potential EU-Australia deal say that it could yield impressive economic benefits , slashing tariffs on goods trade and improving market access on services and investment, along with making it easier for regulators to cooperate and thus lower trade costs. In an interview dated November 2017, Australian Prime Minister Malcolm Turnbull noted...