EU Chief Von der Leyen to Visit Australia Amid Hopes for Free Trade Deal Finalization

Kathmandu. European Union chief Ursula von der Leyen is set to visit Australia next week, raising hopes for the finalization of a free trade agreement following lengthy negotiations. Australian Prime Minister Anthony Albanese confirmed that he will hold an official meeting with her in Canberra on March 24. The Trade Commissioner will also accompany Von der Leyen during the visit.

The issue of access for Australian lamb and beef to European markets remains in its final stages. It is expected that both leaders will discuss this matter to reach a final consensus. Prime Minister Albanese stated, "He is delighted to give a warm welcome to Von der Leyen in Australia, and efforts to further strengthen cooperation between both sides will continue."

China is Australia's largest export market, while the United States is the largest source of investment. Agricultural exports were halted for a few years due to a dispute with Beijing in 2020, and global trade tariffs implemented last year created further challenges in this sector. The European Union is Australia's third-largest trading partner and second-largest source of foreign investment.

According to the Ministry of Trade, a significant increase in trade is expected in the first year if the agreement is finalized. In this context, discussions are also underway regarding the possibility of removing tariffs on luxury cars in exchange for greater access to agricultural markets. Some issues concerning the geographical indications (place names) for cheese and wine production were also raised in prior discussions.