Steve Georganas (Adelaide, Australian Labor Party) Share this | Hansard source

I second the motion. I too rise to speak about the importance of this Australia-EU free trade agreement. There are a number of reasons why negotiations for this particular EU FTA got back on track with the change of government. No-one wants to do business with an unreliable partner, and with the previous government we looked unreliable. It's not a good start to negotiations.

I say that because, with the discussions that have been taking place, one of the most important factors was that this Albanese government has committed to seriously ambitious climate targets, and we know that the previous government's inability to deliver meaningful action on climate change was a real sticking point with the EU. It was mentioned last week when members of the EU parliament met here with some heads of our trade committees. They all mentioned it. We know that the inability to deliver on action on climate change was the sticking point.

There's no doubt that the Prime Minister's June visit to Europe marked a real turning point in negotiations and our position on climate change was welcomed by the EU. In the words of the outgoing EU ambassador, Michael Pulch, there is 'a renewed sense of priority' for the commission and member states. The former ambassador highlighted the Albanese government's ambitious climate change policy and said that it will help facilitate FTA negotiations in the EU. So I think it's clear that we have managed to get this deal back on track.

The government is committed to diversifying our trade, and this FTA is an important step in the process. for too long we've had too many eggs in one basket. We've seen what's happened just recently with China, and that's why we're delivering on our commitment to negotiate this trade agreement with the EU, giving Australian exporters new market opportunities. This will benefit businesses all around Australia, including in our home state of South Australia, Deputy Speaker Sharkie—companies like Almondco Australia, located in Adelaide's Southern Vales. The company's managing director has stated that the EU FTA would give the company the opportunity to expand their product range and compete on a level playing field with their competitors. Then there's Clean Seas Seafood, located on the Eyre Peninsula, who also stand to improve their competitiveness with respect to other producers exporting to the EU.

So we have a lot to gain from this agreement, and, as I said, we've significantly progressed these negotiations. Just last week, together with the Joint Standing Committee on Trade and Investment Growth—which I chair—I met with members of the EU parliament's trade committee who were visiting here in Canberra, and it was a very promising meeting. The EU is a massive high-income market of almost 450 million people. It generates a GDP of around $23 trillion. As a bloc, the EU is already our third-largest two-way trading partner in goods and services. An FTA with the EU would cover over nine per cent of Australia's entire world trade. So this FTA is in our mutual economic and strategic interests. Not only would it demonstrate our shared values and commitment to the rule based order, but it would also help diversify our trade, including in strategically important areas like energy and raw materials. It would also strengthen the EU's economic engagement in the Indo-Pacific.

We understand the importance of commitments to the European Parliament member states and stakeholders. Fundamentally, Australia and the EU are like-minded partners with high standards on environment and labour issues. The EU FTA is critical, and work is taking place to have an agreement finalised by mid-2023. The next round of negotiations will start on 17 October, and the trade agreement is a great opportunity to strengthen our ties and tackle the economic and geopolitical challenges and supply chain disruptions currently facing Europe, Australia and the world.

We can be part of that solution. We already have businesses that are trading with the EU. To give you just a very quick example: in my own electorate of Adelaide, we have San Remo, who's exporting pasta to Italy, and we have Omega Foods, who exports olive oil to Greece. So these things are happening, and we can build on them and create greater trade opportunities for all business.

See this speech in context