European Union - Australia Partnership Framework

OBJECTIVE II : TO PROMOTE AND SUPPORT THE MULTILATERAL RULES-BASED TRADING SYSTEM, AND CONSOLIDATE AND EXPAND THE BILATERAL TRADE AND INVESTMENT RELATIONSHIP

RATIONALE

Trade and investments between the European Union and Australia are important elements of the Australia-EU relationship. We share the same basic values in terms of trade liberalisation and the positive effects it provides for the world trading system and for the world economy including developing countries. We consider that our trade interests are best pursued through a rules-based multilateral trading system - the World Trade Organization. We are also conscious that the multilateral trading system can be complemented on a bilateral basis by 'WTO plus' Free Trade Agreements.

AREAS OF ON-GOING COLLABORATION

• Build on our shared interests to continue and deepen our close cooperation on the multilateral trading system
• work towards an ambitious, balanced and comprehensive outcome of the WTO Doha Round as soon as possible, including through regular advocacy with other key WTO Members;
• regular dialogue on other trade policy issues of mutual interest/concern that may be treated within a multilateral framework.
• Create an optimum environment for trade and investment between Australia and the European Union including through the Trade Policy Dialogue and the Agricultural Trade and Marketing Experts' Group (ATMEG)
• continue to exchange information on policy approaches to free trade agreements (FTAs) and on our respective FTA agendas.
• Explore mechanisms for enhancing the bilateral trade and investment relationship including the need for bilateral agreements, understandings and/or crisis management tools in all fields, including agriculture and SPS .
• Ensure the best possible business relations via involvement of the business communities.

29 October 2008