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Australia cautious about EU Agricultural Trade Deal
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Australia is worried that EU rules and norms might become a hurdle to agricultural negotiations. The European Union is an important trade partner for Australia, since 4.5 percent of their exports go to the old continent. The most popular products are canola and wine, followed by nuts,as well as wool and beef on much smaller scales. Australia's wine industry only brings in about 58 million Australian dollar (about 39.3 million Euros). Also trading with organic goods is popular between EU and Australia.The interaction between these two markets should intensify with the completion of a free-trade deal. The negotiation should start in 2017 and be finished within that year.
Even though the EU and Australia are like-minded partners on most subjects and share many common concerns in today's international trade environment, as the European Commission explains, the Oceanian country fears there will be inequalities in the deal. While political appetite is strong in Australia for an EU deal, industries back at home have warned that Europe’s heavily subsidized agricultural sector will be a hurdle, says The Weekly Times. Another inequality concern is the size of the markets. The EU could have a privileged position in the trade deal through its predominant position on the food export market. Australian farmers are also concerned about “appellation d'origine contrôlée (AOC)”, French for "controlled designation of origin”. It is the French certification granted to certain French geographical locations. This could pose another trade barrier, that should be dealt with.