Negotiations on the Australia-European Union Free Trade Agreement have been set in motion.
Agriculture Minister David Littleproud held talks about improving trade in food and fibre with EU Trade Commissioner for Trade Cecilia Malmström in Canberra yesterday.
“It was great to sit down with the Commissioner to discuss how an FTA would create opportunities for agriculture in Australia and the EU,” Mr Littleproud said.
“The EU is already our fourth largest agricultural export destination and we are confident this future FTA will increase the value of the EU market for our farmers.
“More high quality Australian produce on EU dinner tables is a win for EU consumers and a win for our farmers, our rural and regional communities and our nation.”
In 2016-17, Australia’s top exports to the EU were canola at $1.9 billion, wine at $566 million, wool at $333m, beef and veal at $229m and nuts at $226m.
Reduced tariffs improve export opportunities for farmers by making it easier for them to access key markets. FTAs also give Australian farmers an advantage over competing countries who do not have FTAs.