The European Union and Australia on Tuesday (March 24, 2026) agreed on the final text of a free trade agreement, two years after negotiations broke down over Australian demands for more red meat market access and complaints about Australian products labeled with traditionally European names such as prosecco.
European Commission President Ursula von der Leyen and Australian Prime Minister Anthony Albanese signed the agreement at the Australian Parliament House after protracted negotiations that began in 2018.
The breakthrough comes as both the EU and Australia seek to diversify their trading networks and reduce their economic reliance on China and exposure to uncertain U.S. tariffs.
“Today marks a defining moment in the relationship between Australia and the European Union,” Mr. Albanese told reporters.
“After eight years of negotiations, Australia and the European Union have signed a landmark trade deal,” he added.
