Coalition set to block Australia's $10bn EU trade deal

Summarised from 2 outlets · Updated 12 Oct, 08:24 · Archive

Australia's opposition Coalition plans to block a $10 billion annual trade agreement with the EU, according to sources.

Australia's opposition Coalition will attempt to block a $10bn-a-year free-trade deal with the EU agreed in March, according to sources. Nationals leader Matt Canavan is poised to announce the opposition will actively try to prevent the agreement from passing parliament next year. If successful, it would be the first free trade agreement not to pass the Australian parliament.

Trade Minister Don Farrell warned on Monday that Australia would not get a second chance at an EU deal. He told the Australian Industry Group that successful countries build strong partnerships, diversify markets and remain active participants in the global economy. The EU agreement promises to scrap tariffs on 98 per cent of Australian goods and would 'open doors for Australian businesses that have effectively been closed for decades', he said.

Farrell criticised those opposing the deal, saying 'now is not the time to hamstring the operations of businesses in this room, limiting your opportunities to expand and risking your existing customer bases, all on the fairytale promise of an Australian economy that simply cannot exist except for in the imagination of politicians selling an empty promise'. Coalition trade spokesman Canavan has long opposed the agreement, calling it the 'worst trade deal ever' and taking issue with legally binding climate obligations. After meeting with the European Australian Business Council, he said 'the Coalition will not be supporting Labor's disastrous EU Free Trade Agreement'.

How it is being reported

• ‘Fairytale’: Trade chief’s warning as Coalition moves to block EU dealThe Coalition will try to block a $10bn-a-year trade deal with the EU, according to sources.The West Australian · 12 Oct, 08:03
• ‘Fairytale’: Trade chief’s warning as Coalition moves to block EU dealThe Coalition will try to block a $10bn-a-year trade deal with the EU, according to sources.Perth Now · 12 Oct, 08:02

In this story: Don Farrell · Matt Canavan · European Union · Australia · Coalition

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