The aim of the agreement is to remove barriers to trade in goods and services, create opportunities for all companies, in particular smaller ones and set ambitious rules in line with other trade agreements of the EU.
Led by the EU's Helena König and Australia's Alison Burrows, the fourth round of negotiations included 18 working groups covering all chapters.
The 4th round of discussions showed "a shared commitment to negotiate an ambitious and comprehensive agreement," the EU Trade report reads.
A critical next step is for Australia to publish the EU's Geographical Indications list to enable the first exchange of market access offers.
Future rounds are scheduled for 14-18 October in Canberra and 9-13 December in Brussels.