In brief - In Europe, negotiation is underway for an Australia-European Union Free Trade Agreement (EU Australian FTA). Preparation for an Australia-United Kingdom Free Trade Agreement has also commenced

The EU Australian FTA negotiations were announced in June 2018.

  • Round 4 of the EU Australian FTA, which included investment, occurred in July 2019.

Momentum is building and the Australian Government appears to have prioritised the EU Australian FTA negotiations over a potential UK Australia FTA (which can only take place after Brexit due to EU rules).

Continuing with a free trade agenda at first instance may be counter to the tariff and quota covenants, and possibly extraterritorial data and tax rules, that have been proposed in international markets. Exiting has also drawn intense focus.

However, striking a deal now may be more important than in the past. In finance, the creation of wealth in new regions in Asia and the Middle-East, technological development and new market wants in established economies (or emerging) could be the drivers for enhanced trade arrangements.

Colin Biggers & Paisley has released a thematic review of the financial services aspects of a potential FTA, drawing upon its broad experience in financial services, finance and financial markets.

Toby Blyth Michael Bracken Hamish Ratten
Banking and Financial Services Regulatory and Financial Services
Colin Biggers & Paisley

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