In what could be contemplated as a shimmering beacon of hope to a conclusive trade deal between Australia and EU following a latest leg of spat over Aussies’ active participation in a trilateral security pact with the US and UK, the leading Meganesian economy’s Trade Minister Dan Tehan said in a statement on Friday that an Australia-EU free trade accord could be finalized by end-2022 despite growing angst among a number of leading EU economies about Canberra’s latest move to cancel out a submarine contract with France.
In point of fact, latest remark from Aussie Trade Minister came forth came forth days after Brussels had suspended talks over a plausible free trade pact between the sides, scheduled to begin on October 12, as the EU commission seemingly sided with Paris after Australia had dumped a multi-billion dollar military contract what France had been contemplating as a centrepiece of its Indo-Pacific trade policy.
Nevertheless, a spat between Australia and EU escalated further after Aussies had discretely decided to join a trilateral pact with the US and UK and purchased at least eight submarines built on UK and US technology having had capabilities to launch nuclear missiles.
Australia looks to a free trade pact with EU by end-2022
Aside from that, speaking with a press agency reporter at the sidelines of a meet of G20 countries that took place in Italy, Tehan said that he was not concerned over a recent leg of deep discontent between the parties that had delayed talks, while reaching an agreement between the parties has still been a subject of strong interest for both sides.
Besides, while being asked on when he has been expecting to finalize the deal, Tehan said, “I suggest it's likely the end-game will take some time and we'll be looking towards the end of next year to conclude negotiations”.