IV welcomes the Conclusion of Negotiations on the EU-Australia Free Trade Agreement

“Europe must not fall behind in global competition. Strong partnerships with like-minded countries are crucial, especially in an increasingly uncertain global environment. An agreement with Australia sends an important signal in favor of open, rules-based trade,” said IV Secretary General Christoph Neumayer, commenting on the political conclusion of negotiations between the EU and Australia.

The Federation of Austrian Industries (IV) sees this as an important signal for diversifying trade partners and strengthening Europe’s economic resilience. The agreement would eliminate tariffs on 99 percent of EU exports, improve market access, and create new opportunities for export-oriented industries. It would also facilitate access to critical raw materials—Australia is one of the world’s most important suppliers of raw materials and is, for example, the largest producer of lithium. In 2025, the EU exported goods worth around 37 billion euros to Australia. EU exports to Australia could rise by about a third over the next ten years, and companies would save over one billion euros in tariffs per year.

Australia also offers significant potential for Austria: In 2025, Austrian companies exported goods worth approximately 886 million euros, with machinery, vehicles, and electrical engineering products among the most important export items. “Australia is an economically stable and highly innovative partner. An agreement would make it easier for our companies to enter the market and open up additional growth opportunities, particularly in technology-intensive sectors,” said Neumayer.