EU-Australia FTA Update from the European Australian Business Council (EABC)

EU-Australia FTA Update from the European Australian Business Council (EABC)

April 2025

During a period in which geopolitical volatility is undermining the established international norms upon which both Australia and Europe depend, the case for closer cooperation has never been stronger.

Admist escalating global trade tensions and economic uncertainty, the EABC has redoubled its advocacy for Australian and EU leaders to prioritise the finalisation of an FTA. Following the US Administration’s 2 April 2025 tariff announcements the EABC released a statement (below) on the importance for Australia to secure an FTA with the EU, and why it’s more urgent than ever.

Shortly thereafter, on 9 April 2025 Australian Trade Minister Don Farrell and EU Trade Commissioner Maroš Šefčovič held their first meeting (virtually) following the new Commission taking office in December 2024. EU and Australian officials confirmed the positive and constructive nature of the call, with leaders agreeing to “fast track a resumption of negotiations for a free trade agreement” following Australia’s federal election on 3 May 2025.

The EABC welcomed the news, noting that with the vast majority of the deal already agreed in principle, it is critical that the political leadership of Australia and the EU demonstrate their commitment to economic competitiveness and security by finalising a mutually rewarding deal between trusted, predictable, and strategically aligned partners. To fully realise the immense potential of this agreement for consumers and businesses across the economy, the EABC continues to urge political leaders to prioritise the swift resolution of outstanding issues and to show flexibility in reaching a comprehensive and liberalising agreement.

We look forward to continuing our close collaboration with the SACC, and team Europe in Australia, to see the conclusion of an ambitious deal which unlocks opportunities for business in both directions.

EABC Statement 4 April 2025 – Never a more important time to get an ambitious Free Trade Agreement with the European Union done