Australia Expands Beef and Sparkling Wine Exports to EU Under New Trade Deal

Australian beef producers have scored a major win under a new trade deal with the European Union, gaining greater access to sell their products to the lucrative European market. Additionally, Australian winemakers have secured the right to sell Italian-style sparkling wines labeled as prosecco.

The landmark trade agreement, which has been in negotiations for nearly a decade, will provide Australian farmers and exporters with significant new opportunities to expand their footprint across the EU. For the beef industry, this means an increase in the duty-free quota for Australian beef exports from the current 7,150 tons per year to 35,000 tons over the next 10 years.

"This is a huge win for our beef producers," said Annabel Neasham, the Australian Minister for Agriculture. "Europe is a massive market with enormous potential, and this deal gives us a chance to get our high-quality Australian beef onto more European plates."

In addition to the beef quota, the trade agreement also grants Australian winemakers the right to use the term "prosecco" on their sparkling wine labels. This is a significant victory, as the prosecco grape variety is traditionally associated with the Veneto region of Italy.

"Our sparkling wines are world-class, and now we can market them to European consumers using the same name as the Italian version," said Peter Nixon, the CEO of a leading Australian winemaker. "This will help us expand our reach and appeal to a whole new customer base."

The new EU-Australia trade deal is seen as a significant step forward in strengthening economic ties between the two regions. By providing greater market access for key Australian exports like beef and wine, the agreement is expected to boost trade and investment opportunities for businesses on both sides of the Pacific Ocean.

"This is a landmark achievement that will benefit consumers and producers alike," said Ursula von der Leyen, the President of the European Commission. "It demonstrates the EU's commitment to forging closer ties with strategic partners like Australia in the Asia-Pacific region."