Our 'ridiculous' trade imbalance with EU

Trade Minister Steve Ciobo is headed to London to work on new trade deals with the European Union and the UK, with a plan to focus on quotas.

The imbalance between Australian and European Union exports is ridiculous when you look at the population of each area, the trade minister believes.

"Unfortunately we have lost ground in the EU and I want to make sure that we reverse that," Steve Ciobo told ABC radio on Monday, ahead of heading to London to work further on trade deals with the EU and the UK.

"It is a ridiculous situation that Australia imports more from the European Union than we actually export to the European Union with their population of some 400-plus million people."


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Source: AAP



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