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The European Union (EU) has postponed free trade talks with Australia

The European Union (EU) has postponed talks on a new free trade agreement with Australia. According to the EU Commission, a round of talks actually scheduled for October will now take place a month later. A spokesman in Brussels on Friday said no one wanted to make better speeches and needed time to think.

The EU feels betrayed

The European horror is that in recent months the United States has been negotiating a new security agreement for the Indo-Pacific region with the United Kingdom and Australia in the aftermath of the EU. In particular, the government in Paris is outraged because the 56 56 billion submarine deal between Australia and France with the deal has exploded. The Council of Ministers of the European Union has previously stated that a speedy conclusion of the trade agreement is unlikely after recent events.

Talks have been going on since 2018

Free trade talks between the European Union and Australia began in 2018. Possible agreements for the elimination of negotiated material charges, but also restrictions on services, investments and competition issues.

According to the Federal Bureau of Statistics, German exports to Australia last year were worth about .5 8.5 billion. Australian exports to Germany are worth about three billion euros. Cars, pharmaceuticals and pharmaceutical products and especially machinery are supplied from Germany to Australia. Australia, on the other hand, exports especially gold and precious metals and agricultural products.