Dec 19

Trade Agreement Between Europe And Australia

One study showed that eu trade agreements implemented during the 1993-2013 period ”reduced quality-adjusted prices by almost 7%.” [83] ”There are huge opportunities to better coordinate Australian and European regulatory systems for doing business,” said Jason Collins, Director General of the European Australian Business Trade Forum. Ceta has also streamlined product testing procedures by expanding mutual recognition and reducing the costs of trading in animal and plant products. In the service sector, Ceta provides a framework for mutual recognition of professional qualifications and removes some unfair nationality requirements. For much of Ceta, it is about continuing cooperation on service rules, rather than actually extending market access to sectors that have previously been closed. Former Prime Minister Theresa May`s attempts in 2017 to reach a ”tailor-made” deal with the EU have been briefly scaled back in Brussels. His successor, Mr Johnson, agrees that any agreement should be based on precedents and has made the 2014 EU tariff reduction agreement with Canada a possible model. The annual high-level dialogue on high-level trade policy meets regularly to discuss bilateral trade relations. The same applies to trade between Britain and the EU in the event of no agreement. In practice, this would mean the introduction of tariffs on many products traded between the UK and the EU, in addition to certain quota restrictions and customs controls (Northern Ireland would be treated differently). Britain`s efforts for its future trade relations with the EU have been gradually mitigated due to differences of opinion between the two sides during the often difficult negotiations that followed the UK`s withdrawal from the EU on 31 January.

To date, the EU and Australia have maintained their trade and economic relations under the 2008 EU-Australia partnership. The aim is to facilitate trade in industrial products between the EU and Australia by removing technical barriers and improving trade in services and investment. These are concerns such as those that prompted Australia to enter into negotiations with the EU in 2018 in an attempt to reach an ”ambitious and comprehensive” free trade agreement.

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