| Publication |
2014.
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| Summary/Abstract |
Australia is currently negotiating a framework treaty with the European Union (EU) that aims at closer cooperation on a wide range of shared policy goals. The treaty is not expected to include trade-liberalisation commitments. This article queries why this is, given the importance of trade and business relations with the EU for Australia, and the fact that the EU exerts international influence primarily as a trade power, rather than a foreign and security policy power. Since 2006, the EU has also been negotiating 'new-generation' bilateral free trade agreements (FTAs), focusing on tariffs and regulatory non-tariff trade barriers. It has now committed itself to FTA negotiations with many of Australia's trade partners in Asia and the Organisation for Economic Co-operation and Development. An FTA and a complementary framework treaty were concluded with South Korea in 2010, and the EU is currently negotiating a similar package with Canada. As Australia and Canada are comparable trade partners for the EU, the article argues that an FTA on the EU-Canada model could be a more effective avenue for Australia to achieve deeper engagement with the EU.
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