The European Commission recently circulated reports about the early negotiating rounds with Australia and New Zealand, respectively, for free trade agreements (FTAs) with both countries, indicating that both processes had seen some promising advances since they were formally launched in late June. The two nascent trade negotiating processes have been touted by all sides as a way to support new trade rule-making, along with making sure that their trading relationships become even more commercially competitive in light of the plethora of trade agreements that both sides are involved in with other partners. Prior to the talks’ launch, some officials had floated the possibility of wrapping these accords up in 2019, though a formal timeline has not been set. The current European Commission finishes its term on 31 October 2019, with President Jean-Claude Juncker not seeking a second term at the helm, meaning the EU’s executive arm will see a shake-up the same year as the European Parliament elections. The next Australia election, meanwhile, must be held next year as well, though dates have not been set. New Zealand is operating on a longer electoral timeframe, given that the coalition government of Prime Minister Jacinda Ardern took office just one year...
Theme: GLOBAL ECONOMIC GOVERNANCE
Tags: Regional Trade Agreements (RTAs), Australia, European Union (EU), New Zealand, Regional Trade Agreements (RTAs)