00:00The EU has set its sights on a landmark trade deal with Australia
00:03as Commission President Ursula von der Leyen prepares to visit Sydney and Canberra
00:07for a final round of talks next week.
00:10The hard-fought agreement collapsed in 2023 due to a standoff over agriculture,
00:15with Canberra accusing Brussels of blocking market access for Australian meat exports.
00:20However, mounting global trade tensions and sweeping US tariffs have revived negotiations
00:24as the EU races to diversify its partners.
00:27The Commission knows that 83% of EU trade now takes place with countries beyond the United States,
00:33following recent deals with India, Mexico and Indonesia.
00:37For Brussels, the deal is also a strategic move to secure critical raw materials,
00:41including lithium and cobalt, needed for the bloc's green energy transition.
00:46Beyond economy, the agreement carries significant geopolitical weight in the Indo-Pacific,
00:51where rivalry with China continues to intensify.
00:53Von der Leyen's visit marks the final stretch of a process designed to strengthen ties
00:58with a like-minded partner in one of the world's most dynamic economic regions.
01:03It's complete.
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