Australia–EU agreements deliver opportunity across the economy
Joint industry statement
Leading Australian business, industry, investment and peak body organisations welcome the conclusion of the Australia–European Union Free Trade Agreement, the establishment of the Australia–EU Security and Defence Partnership, and the decision to fast-track negotiations for Australia’s association with Horizon Europe.
These outcomes provide much-needed clarity and confidence at a time when businesses, investors, and researchers are navigating increased global uncertainty, disrupted supply chains and rapid technological change. Together, they strengthen Australia’s links with one of its most important economic partners and expand opportunities for Australian firms across a wide range of sectors.
The EU-Australia Free Trade Agreement will improve access to the world’s largest single market and removes long-standing barriers that have constrained trade and investment. Australian exporters, service providers and investors will benefit from greater certainty, more efficient regulatory settings and improved conditions to operate, compete and scale in Europe.
The benefits extend across the economy. Industries spanning resources and critical minerals, clean energy, advanced manufacturing, agribusiness and food, financial and professional services, digital and technology services, healthcare and life sciences, education, transport and tourism are all well positioned to take advantage of improved market access, deeper commercial partnerships and stronger value-chain connections.
The EU-Australia Security and Defence Partnership reflects the growing intersection between economic activity and national resilience. It supports closer collaboration in areas such as defence industry capability, advanced manufacturing, emerging technologies, cyber and supply-chain resilience – creating new opportunities for Australian businesses to partner with European counterparts in high-value strategic sectors.
Fast-tracking negotiations for participation in Horizon Europe further strengthens this partnership by linking Australian industry, researchers and innovators into one of the world’s most significant research and innovation ecosystems. This collaboration will help drive new ideas from research through to commercial application and support the development of globally competitive industries.
Together, these agreements support investment, innovation and job creation across Australia, including in regional communities where many opportunities in these critical sectors are based.
Business and industry, institutional investors, universities and the research community urge the EU and Australia to swiftly ratify these agreements and expedite their implementation. Peak bodies will work with governments and partners on both sides to ensure these agreements translate into practical outcomes for businesses, workers and communities.
Super Members Council CEO Misha Schubert said:
“For millions of everyday Australians with super, a comprehensive free trade agreement with the EU can help open the door to further investment opportunities that will be hugely important to their retirement incomes.”
“The EU already attracts billions of dollars of super investment, and that’s set to continue as Australians’ super funds continue to scour to the globe for the best places to deploy hundreds of billions of dollars more in coming years, offering further opportunities to deliver good long-term, risk adjusted returns for their members.”