Ursula von der Leyen: The EU–Australia agreement could add 4 billion € to the European GDP

The President of the European Commission, Ursula von der Leyen, began a three-day official visit to Australia on Monday, aiming to finalize a free trade agreement. This agreement promises the elimination of tariffs on the majority of trade between the European Union and Australia, with the potential to increase the European GDP by 4 billion euros by 2030. Von der Leyen emphasizes the strategic importance of Australia in securing raw materials, especially lithium, essential for electric vehicle batteries. Recent negotiations have also focused on quotas for imported beef from Australia, with Brussels wanting to limit imports to 30,000 tons annually, while Australia prefers a threshold of 40,000 tons. European farmers, already dissatisfied with the agreement with Mercosur, have expressed concerns about the impact of this new agreement on agricultural markets. The EU seeks to strengthen and diversify trade partnerships in the context of increased global competition, considering the recent agreement with India.