EU-Australia partnership: a new Horizon!

The EU and Australia announced this month the adoption of a groundbreaking Security and Defence Partnership. They have also concluded negotiations on an ambitious and balanced free trade partnership (FTA) and agreed to launch formal negotiations for Horizon, the world's largest research and innovation funding programme.

The agreement will give EU exporters privileged access to the Australian market, including:

* Removing over 99% of tariffs on EU goods exports to Australia, thus cutting some €1 billion a year in duties for companies of all sizes.

* Opening of the Australian services market in key sectors, including financial services and telecommunications.

* Providing greater access for EU companies to Australian government procurement contracts

* Setting ambitious rules on data flows, prohibiting data localisation requirements.

* Securing the supply chains of critical raw materials (CRMs) by lowering import tariffs and opening investment opportunities.

In addition, to ensure that small businesses also benefit from the agreement, it contains a dedicated chapter on small and medium-sized enterprises to help them increase their exports. The agreement will also make it easier for EU professionals to work in Australia, while entry quotas for engineers and researchers will boost innovation in both Europe and Australia.

With these steps, the EU and Australia are delivering mutually beneficial outcomes and further reinforcing their already close relations. The FTA final text was agreed upon during a leaders' meeting in Canberra between European Commission President Ursula von der Leyen and Australian Prime Minister Anthony Albanese.

President von der Leyen said:

"The EU and Australia may be geographically far apart, but we couldn't be closer in terms of how we see the world. We are committed to building a cleaner, more digital future for our citizens, workers and businesses. And we are sending a strong signal to the rest of the world that friendship and cooperation are what matter most in times of turbulence."