The annual high-level dialogue on high-level trade policy meets regularly to discuss bilateral trade relations. However, for now, it seems likely that an agreement – and very soon – will be reached. On June 16, 2020, Australian Trade Minister Simon Birmingham said the goal was to conclude the agreement in “record time,” particularly by the end of 2020, while on June 17, Australia`s High Commissioner said the free trade agreement was a “top priority” for Canberra and could be reached “quite quickly.” Both sides appear confident about how to achieve this, although concerns were initially raised that bilateral trade agreements could depend on EU-UK negotiations and could not be put in place until 2022. More information on EU-Australia trade negotiations “This is a very symbolic agreement that comes at a time of global trade uncertainty,” Senator Birmingham told the Sun-Herald and The Sunday Age. “It says in a truly powerful and tangible way that our region, which has been the engine of global economic growth, remains committed to the principles of trade, openness and ambition.” Much of the focus on RCEP is the uniformity of trade rules between countries, making it easier for people to do business. The EU and Australia have concluded negotiations for a political framework agreement with a number of economic and trade cooperation agreements. “There are challenges right now and I am deeply concerned that Chinese regulatory measures in a number of areas have disrupted trade flows. In the past, both the United Kingdom and Australia had expressed their willingness to conclude such an agreement, but no firm action was taken, allegedly because of the ongoing negotiations between the United Kingdom and the EU, but also because of the recent Covid-19 epidemic. But the case has become more important and perhaps accelerated in the wake of the recession that inevitably followed the blockades imposed to combat the pandemic. Negotiations for a free trade agreement between the UNITED Kingdom and Australia finally began on 17 June 2020 and the first round took place between 29 June and 10 July 2020. There is a mutual recognition agreement between the EU and Australia to facilitate trade in industrial products by removing technical barriers.
The agreement establishes mutual recognition of compliance assessment procedures. This reduces the testing and certification costs of exports and imports. Free trade agreements (FAs) offer a competitive advantage to Australian businesses. By removing and removing certain barriers to international trade and investment, free trade agreements benefit Australian exporters, importers, producers and investors. The Australian government will use the trade bloc, modelled on the European Union in the Indopapacific region, to re-enter China into multilateral negotiations and end trade disputes that have affected a dozen Australian industries and threatened $20 billion in exports.