Trade ministers from Australia and the European Union were unable to finalize a trade agreement after last-minute demands on market access were presented by the Australian side.
On a Sunday afternoon inside Osaka's prestigious RIHGA Royal Hotel, trade ministers from the world's largest economies were enjoying a sundowner while two men held a closed-door meeting to seal a deal five years in the making.
Before the two teams sat down at the table for the high-stakes talks, Farrell requested an informal meeting with Dombroskis at their Osaka hotel.Accounts differ as to precisely what went down but if you believe the Europeans, Farrell came armed with a list of last-minute demands on market access which, according to reports, were seen as a complete reversal of progress achieved in the weeks leading up to the talks.
The ABC understands the EU offered an annual quota of about 25,000 tonnes of sheep meat, for example, when New Zealand managed to secure 38,000 tonnes in its free trade deal with the EU last year. Their concerns weren't limited to volumes or quotas, they were also worried about the conditions a deal with the EU would impose on them.Australian-produced prosecco and feta cheese are in a battle to retain their names as European farmers push for Champagne-style protections.The Europeans, for example, only wanted to take Australian beef that had spent up to 50 days being grain fed, before processing: a clause that would exclude huge amounts of Australian beef from being exported to Europe.
The EU is a like-minded and massive market of 445 million people but it too has a strong farm lobby which has ensured the very high tariffs on agricultural imports. Instead, the Australia-EU free trade deal seems as far away as ever, and Farrell and Dombroskis are not only returning from Osaka empty-handed but with a bitter taste in their mouths as well.Trade minister enters 'endgame' talks with the European Union that could deliver a sugar rush and even cheaper cars
Australia European Union Trade Agreement Market Access Negotiations
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