Negotiations between Australia and Europe for a $100bn trade deal have failed due to disagreements over product renaming and concerns about the impact on local agricultural producers.
Following a visit to the G7 trade ministers’ meeting in Osaka, Senator Farrell said the $100bn deal was a no-go after both parties failed to reach a compromise on a number of sticking points including a Europe an-bid to force Australia n business to rename locally produced products.“ Negotiations will continue and I am hopeful that, one day, we will sign a deal that benefits both Australia and our Europe an friends.
Negotiations between Australia and Europe first stalled in July due to a disagreement over an EU attempt to force Australian businesses to rebadge the name of goods, including feta, mozzarella, parmesan and prosecco, to protect European naming rights. Local agricultural producers also staunchly opposed the deal, arguing farmers would have received the short end of the stick compared to their European counterparts. Last week, National Farmers’ Federation president Fiona Simon labelled the deal as a “dud” and said it looked like the “EU is getting more of what they wanted, and we’re getting less.”
Australia Europe Trade Deal Negotiations Disagreement Product Renaming Agricultural Producers
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