"The EU and Australia may be geographically far apart but we couldn't closer in terms of how we see the world. With these dynamic new partnerships on security and defense, as well as trade, we are moving even closer together."
"The agreement will remove over 99% of tariffs on EU goods exports to Australia, cutting 1 billion ($1.16 billion) a year in duties for companies."
"Australia will lower tariffs on imports of critical minerals, and the deal could see EU exports to Australia increase by 33% over the next decade."
Australia and the European Union have finalized a trade deal after eight years of negotiations, announced by EU chief Ursula von der Leyen and Australian Prime Minister Anthony Albanese. The agreement aims to diversify trade as Europe faces challenges from the US and China. It will eliminate over 99% of tariffs on EU goods exports to Australia, significantly benefiting various sectors. Additionally, a security and defense partnership was established, reflecting a closer alignment in global perspectives between the two regions.
Read at www.dw.com
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