On 24 March 2026 in Canberra, the European Commission (EC) and Australia concluded negotiations on a balanced free trade agreement (FTA), creating a free trade area with more than 450 million consumers. Australia is one of the world’s fastest-growing developed economies, so the FTA will offer significant opportunities for European companies and farmers, including those in Latvia. The FTA will eliminate more than 99% of tariffs on EU goods exported to Australia. EU exports to Australia are…
On 24 March 2026 in Canberra, the European Commission (EC) and Australia concluded negotiations on a balanced free trade agreement (FTA), creating a free trade area with more than 450 million consumers. Australia is one of the world’s fastest-growing developed economies, so the FTA will offer significant opportunities for European companies and farmers, including those in Latvia. The FTA will eliminate more than 99% of tariffs on EU goods exported to Australia. EU exports to Australia are expected to grow by as much as 33% over the next decade, reaching up to 17.7 billion euros annually. Overall, the tariff reductions will save EU exporters approximately one billion euros annually in taxes. The main EU product groups that will benefit…
