Australia's trade talks with EU under way

Australia and the European Union have started talks on a free trade deal that could open a market of half a billion people for Australian products.

MALCOLM TURNBULL EU TRADE NEGOTIATIONS

Malcolm Turnbull has launched trade talks with EU Commissioner for Trade Cecilia Malmstrom. (AAP)

The Italians don't like our "Parmesan" cheese, and French farmers don't want our beef, but Australia and the European Union are confident a free trade deal will be done.

EU Trade Commissioner Cecilia Malmstrom met with Prime Minister Malcolm Turnbull and other ministers in Canberra on Monday to officially launch negotiations on a free trade deal.

The sticking point, as it has been for years, will be European producers unhappy with Australian companies using European names, and farmers worried about competition.

"Agriculture and what we call geographical indicators are very important to us," Dr Malmstrom told reporters on Monday.

"I think this is probably the chapter that would be the most difficult one. But we are well-prepared."

Dr Malmstrom is confident a deal will be done.

"We've done a lot of work in the scoping exercise so we know the different interests and the difficulties. We'll find a way," she said.

Trade Minister Steve Ciobo hinted that high-quality agricultural products could be a big winner.

"I want to see more Australian premium produce on plates from Prague to Paris," Mr Ciobo said.

The trade talks come as EU and Australia have become concerned about rising protectionism, especially in the United States and China.

Dr Malmstrom said the "predictability" of rules-based free trade had served Australia and the EU well.

"I think it sends a very strong political signal that we're launching these negotiations today," she said.

A free trade pact would open a market of half a billion consumers and a GDP of $23.2 trillion, making it one of Australia's biggest agreements.

Mr Turnbull said the EU deal would be the latest in a line of trade deals that includes pacts with China, South Korea, Japan, Singapore, Peru, and the Trans-Pacific Partnership.

"Free trade and open markets means more jobs for Australians and for Europeans," Mr Turnbull told reporters.

Australia believes an agreement with the soon-to-be 27-country European bloc will help push back against the protectionism coming from the United States and others.

The first round of negotiations will be held in Brussels in early July.


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Source: AAP


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Australia's trade talks with EU under way | SBS News