ACT Calls for Swift Passage of Australia-EU Free Trade Agreement

The Australian Capital Territory (ACT) government is urging its federal representatives to approve the Australia-European Union Free Trade Agreement (A-EU FTA) as soon as possible.

The A-EU FTA offers significant economic benefits for the region, including increased investment and job opportunities, access to a 450 million consumer market with a $30 trillion economy, and reduced tariffs on ACT exports such as wine, machinery, and electrical goods.

ACT goods will benefit from duty-free access to the EU market, while local businesses will gain improved access to European government procurement markets worth over $845 billion annually.

The agreement also establishes a new Innovation Mobility Pathway, which will support research collaboration and skills development between Australian and EU institutions and businesses in sectors such as renewable energy, health technology, and clean technology.