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Australia

Australia

The EU and Australia conduct their trade and economic relations under the 2008 EU-Australian Partnership Framework. This aims to facilitate trade in industrial products between the EU and Australia by reducing technical barriers and improve trade in services and investment.

The EU and Australia ended preparatory work in April 2017 for potential trade negotiations. The European Commission has now recommended that the EU begin negotiations for a trade agreement with Australia.

Better Regulation Agenda

Impact assessment for the future EU-Australia Free Trade Agreement

Trade picture

  • Australia ranked as the 19th-largest trade in goods partner of the EU, while the EU represented Australia's third-largest trading partner after China and Japan in 2016.
  • Australia's exports to the EU are dominated by mineral commodities (fuels and mining products) and agricultural products while EU's exports to Australia are predominantly manufactured goods.

EU-Australia: Trade in goods

Trade in goods 2014-2016, € billions
Year EU imports EU exports Balance
2014 9.2 29.6 20.4
2015 9.6 31.5 21.9
2016 13.1 32.4 19.4

EU-Australia: Trade in services

Trade in services 2013-2015, € billions
Year EU imports EU exports Balance
2013 8.0 19.2 11.2
2014 7.7 18.7 11.0
2015 9.5 19.8 10.3

EU-Australia: Foreign direct investment

Foreign direct investment 2015, € billions
Year Inward stocks Outward stocks Balance
2015 25.1 145.8 120.7

Date of retrieval: 15/02/2017

More statistics on Australia

EU and Australia

The EU and Australia concluded the negotiations for a political Framework Agreement which contains a number of economic and trade cooperation arrangements.

The annual senior official-level Trade Policy Dialogue regularly meets to discuss bilateral trade relations.

There is a Mutual Recognition Agreement between the EU and Australia to facilitate trade in industrial products by reducing technical barriers, including assessment procedures.

This agreement creates mutual recognition of conformity assessment procedures. This is done to reduce the cost of testing and certifying of Australian exports and imports.

The leaders of the EU and Australia, in their meeting in November 2015, agreed to start work towards launching negotiations for a Free Trade Agreement.

More information:

Trading with Australia