Pushed to back of ANOTHER queue? Australia to wrap up EU deal BEFORE Brexit trade talks
AUSTRALIA'S chief business representative in Europe believes a free trade deal with the EU will be wrapped up ahead of a free trade deal with a post-Brexit UK.
Australia business chief: EU free trade deal will be tied up before Brexit
Australian businesses believe a free trade agreement with the European Union will be wrapped up very soon - pushing a potential deal with the UK into the distance.
This comes just days after the US backed away from a similar 'front of the queue' promise following Brexit.
Euro-Aust Business Council CEO Jason Collins emphasised the fact that Europe is the country's largest investment partner.
Australian businesses believe a free trade agreement with the European Union will be wrapped up soon
The shifting priorities follows criticism this week from Australia's High Comissioner who said that Britain had to change its approach to free trade if they wanted a deal.
Mr Collins told Sky News in Australia: "It’s important to remember that Europe as a whole remains Australia’s largest economic partner.
"Even with our North Eastern Asian partners, Europe remains by far our biggest investment partner."
This comes just days after the US backed away from a similar 'front of the queue'
There is a formal process already on its way to an FTA between Australia and the EU
He then lavished praise on dealing with the EU, as the propsect of completing a trade deal with the 27-member bloc grows.
The Council CEO added: "Instead of something not going very fast, the investment flow is strongly increasing over recent years.
"This is because legal and institutional frameworks are good for long-term investing."
"You have to remember that there is a formal process already on its way to an FTA between Australia and the EU."
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Europe is the country's largest investment partner
He continued: "Negotiations are going strongly. The preliminary scoping phase is ending before the formal negotiation phase later this year.
"Prime Minister Turnbull is very strong behind process and they’re keen to get this locked away as soon as possible."