Australia and EU secure sweeping new trade accordAFP, CANBERRAThe EU and Australia yesterday struck a long-awaited free-trade deal, while also agreeing to boost defense cooperation and access to crucial rare-earth minerals in the face of global uncertainty over trade. The accord is the latest agreed by Brussels in a push to diversify trade, as Europe faces challenges from the US and China. Australian Prime Minister Anthony Albanese, left, and European Commission President Ursula von der Leyen walk through the corridors of Parliament House in Canberra yesterday. Under the pact, the EU said it expected exports to Australia to grow by one-third over a decade. Australia said the deal could add A$7.8 billion (US$5.4 billion) to its GDP by 2030.

Source: Taipei Times March 24, 2026 17:14 UTC