G7 summit: Friedrich Merz asks Anthony Albanese to help speed up Australia-EU free trade agreement
After Anthony Albanese’s G7 run was upended by US President Donald Trump’s swift exit, a new trade deal with the European Union could bolster Australia’s international trade presence.
The Prime Minister’s window to negotiate a tariff exemption with Mr Trump - who returned to the US to contend with escalating attacks between Israel and Iran - but Australia could expand its international trade presence through a free trade agreement with the EU.
While Mr Albanese has already dashed hopes of a deal being struck when he holds a trilateral meeting with EU Commission President Ursula von der Leyen and European Council President Antonio Costa, Ms Von der Leyen’s expected Australian visit is likely to provide another avenue to progress talks.
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German Chancellor Friedrich Merz has now indicated a desire to secure a deal as quickly as possible during his bilateral with Mr Albanese overnight on Wednesday (AEST).
During brief remarks prior to their meeting, Mr Albanese thanked Mr Merz for his support of Australia securing a free trade agreement with the European Union, to which the German leader interjected and said: “Is there anything what we can do, what I can do to speed it up a little bit”.
Mr Albanese said in response: “We’re very keen on getting it done very quickly”.
Negotiations on a potential deal began in 2018, but broke down in 2023 over EU geographic indicator rules that would prevent Australian producers from selling products using names linked to a specific area.
It would mean items such as prosecco, feta and parmesan would need to be sold using generic names in Europe.
Low export quantities on things like lamb, beef, and sugar would also make the deal less viable for Australian farmers.
Speaking about the agreement on Monday (AEST), Mr Albanese said he would “only sign up to an agreement that is in Australia’s national interest”.
“I think that the fact that during the last term we had negotiations and then we walked away is important, because what that does is confirm that we are prepared to walk away,” he said.
“And if you’re trying to advance your national interest, then you need to be serious about that and show that you are. And so, whether it’s this or any other agreement for that matter, my job is to represent Australia’s national interest. We will do that.”
