BRUSSELS, Jul 11 (Reuters) – The European Union and Australia have failed to conclude talks on a planned free trade deal, a European Commission spokesman said on Tuesday.
The EU and Australia opened talks in 2018 and hoped to conclude the talks this week. However, differences persisted, particularly over the degree to which the EU will open its markets to Australian farm products, particularly beef.
“We regret that it has not been possible to conclude our talks with Australia this week. We have made progress, but more work is required to address key outstanding issues,” the spokesperson said.
Both sides are looking to diversify trade, the EU in particular after Russia’s invasion of Ukraine and Australia after major trading partner China imposed blockades on a large number of Australian agricultural products in a 2020 political row.
A deal could also help the EU in its search for critical raw materials for its green and digital transition and reduce its dependence on China. Australia is the world’s largest producer of lithium.
Negotiations are also continuing on increased EU access to Australian energy and commodity products, as well as services.
Reporting by Philip Blenkinsop and Charlotte Van Campenhout Editing by Tassilo Hummel and Mark Potter
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