Pass the prosecco: Europe trade deal deliciously close
Australian and European officials hope to hammer out the final points of a long-awaited trade deal after progress was made on a key sticking point over naming products such as cheese and wine.
European Union President Ursula von der Leyen will arrive in Sydney on Monday for a three-day visit, during which she will meet Prime Minister Anthony Albanese and become the first female foreign leader to address federal parliament.
Ms Von Der Leyen and Mr Albanese are expected to sign an Australia-EU free trade agreement that will end a years-long saga defined by stalled negotiations and previously unresolved disputes.
They are also expected to talk about Australia’s world-first social media ban, which some European countries plan to emulate.
Trade Minister Don Farrell and his counterpart Maros Sefcovic will discuss the free trade agreement on Monday.
Previous negotiations had failed largely due to disagreements over the agricultural sector.
The Australian side wants meat producers to be allowed to sell more of their products to the European market, but this is opposed by EU negotiators who want to protect their farmers from increased competition.
Some farmers are likely to be disappointed with the level of access to European markets locked in by the deal, but a source close to the talks but not authorized to speak publicly told AAP the two sides were still making positive progress.
Europe also wants to take away the right of Australian farmers to use geographical naming indicators such as feta, parmesan and prosecco.
It is likely that a compromise will be reached on this dispute once the final agreement is reached.
Former Australian trade official Prudence Gordon said the effort to reach a deal showed Europe and Australia were trying to beat back US President Donald Trump’s attempt to overthrow traditional trading systems.
“The fact that Australia and the EU are negotiating this trade deal really speaks to their efforts to counter the chaos that Donald Trump has created,” the current chief executive of the Australian Center for International Trade and Investment told AAP.
Mr Albanese sought to frame the deal as a win for Australian exporters, who could earn an extra $10 billion a year.
At a recent meeting with food and drink manufacturers he said this would potentially increase Australian businesses’ access to a growing European market of 450 million consumers looking to sink their teeth into local products.
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