Saturday, October 16, 2021

Australia says trade deal will benefit EU in submarine deal fallout in Indo-Pacific

Canberra – An Australian-EU trade deal would be mutually beneficial and allow EU members a greater presence in the Indo-Pacific, Australia’s trade minister said, as Canberra is set to scrap the $40 billion submarine deal. After tries to repair relations with Paris.

Australia last week canceled a deal with France’s Naval Group to build a fleet of conventional submarines and instead made a tripartite security partnership with those two countries after forming a tripartite security partnership with US and British technology with at least eight nuclear-powered submarines. powered submarines.

The cancellation angered France, which accused both Australia and the United States of stabbing them in the back, and it recalled its ambassadors from both Canberra and Washington.

In solidarity with France, EU lawmakers have publicly questioned whether a trade deal with Australia might be possible.

Australia’s Trade Minister Dan Tehan on Wednesday urged the European Union to move forward with a trade deal.

“The Australia-EU FTA is in the best interest of all parties,” Tehan said in a speech in Canberra.

“The EU will use this as a way to strengthen its engagement with the Indo-Pacific because they know the region holds the world’s economic burden.”

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Australia and the European Union will hold the next round of talks on a trade deal on 12 October.

Australia remains hopeful that those talks will go ahead, although the depth of anger in New York at the United Nations was clearly on display when a senior EU lawmaker turned away from the usual pleasantness when speaking to Australian Prime Minister Scott Morrison on Tuesday. did.

“For us transparency and loyalty are fundamental principles for building strong partnerships and strong alliances,” European Council President Charles Michel told Morrison at a bilateral meeting in New York on Tuesday.

Morrison is in the United States to participate in the quadrilateral security dialogue made up of India, Japan, the United States and Australia – which is to be held later this week.

He met US President Joe Biden in New York, but Morrison said he would not be able to meet French President Emmanuel Macron.

by Colin Packham

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This News Originally From – The Epoch Times

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