EU and Australia clinch trade deal after eight years of talks

The EU and Australia concluded negotiations and signed a free trade agreement on Tuesday that will eliminate tariffs on almost all goods on both sides.

European Commission President Ursula von der Leyen and Prime Minister Anthony Albanese confirmed in Canberra that talks had wrapped up. Brussels estimates the deal will save EU companies more than €1 billion a year in export duties to Australia.

EU exports to Australia reached €37 billion in goods in 2025 and €31 billion in services in 2024, Commission data show. Brussels expects the agreement to boost bilateral trade in goods and services by about 30% over the next decade.

Speaking to reporters on Monday, EU trade chief Maroš Šefčovič described the deal as “very ambitious,” adding that almost all goods will be liberalised — with steel excluded on both sides.

The agreement will ease market access for EU service providers, facilitate investment and ensure European companies can compete on equal terms with Australian…