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Formal trade negotiations between the EU, Australia and New Zealand have been given the green light and welcomed by the European Commission.
"These agreements will build on the recent successful agreements with Canada, Japan, Singapore, Vietnam and Mexico among others, expanding the alliance of partners committed to open and rules-based global trade. Open trade must go hand in hand with open and inclusive policy making,” said President of the European Commission, Jean-Claude Juncker.
???????????? We have a green light for trade talks with Australia & New Zealand! We're ready to start: @MalmstromEU will open the negotiations in June, followed by the first round in July. ???? More info: https://t.co/B4OKVNX6rn pic.twitter.com/6Wd0H4GAp0
— EU Trade ???? (@Trade_EU) May 22, 2018
Historically, Ireland has vied with both countries for market access in potentially lucrative food markets such as in China and Japan.
Australia and New Zealand enjoy geographically closer proximity to the growing Asian market and have an established trade of beef and dairy products to the area.
This is great news
But the trade deal between the EU and both countries has been welcomed by Commissioner for Trade Cecelia Malmström.
"This is great news. We look forward to adding Australia and New Zealand to the EU's ever-growing circle of close trading partners,” Malmström said.
“Together, we will now negotiate win-win trade deals that create new opportunities for our businesses, as well as safeguard high standards in key areas such as sustainable development.”
The Commission has stated that having a trade deal with the countries will widen the entry point for businesses in the Asia-Pacific region.
Commissioner Malmström will travel to Australia and New Zealand in June to open political negotiations, with the first round of negotiations likely to take place in Brussels in July.
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