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The EU, in 2015, has concluded political framework agreements with Australia and New Zealand respectively to further strengthen the partnerships that are based on joint values and principles such as respect for democratic principles and human rights and fundamental freedoms, rule of law, international peace and security. While these framework agreements enhance political and sectorial cooperation between the parties and provide for an updated institutional framework, there is an untapped potential in the areas of trade, investment and economic co-operation.
Both Australia and New Zealand have concluded numerous free trade agreements with their other partners that leave the EU's economic operators with comparably less favourable conditions to access these markets.
The EU has mature trade and investment relations with Australia and New Zealand that are like-minded partners. Removing existing market access barriers in Australia and in New Zealand for goods, services, investment and public procurement would benefit the European stakeholders - manufacturers, services industry, traders and their workforce as well as consumers and regulators. At the same time, however, the EU agricultural sensitivities need to be taken into account.
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