A free trade deal between Australia and the European Union appears doomed after a final round of negotiations between both sides collapsed before they even began.
According to ABC News, Australia’s Trade Minister Don Farrell was due to hold talks with his EU counterpart in Osaka on Monday but said he was walking away from the deal because the offer on the table still wasn’t good enough.
“Negotiations will continue and I’m hopeful that one day we’ll be able to sign a deal that benefits both Australia and our European friends,” Mr Farrell said.
Talks on a free trade deal have been deadlocked since July, with one major sticking point being the EU demands for Australia to give up naming rights to products such as feta and prosecco to protect so-called “geographical indications.”
Source: ABC News.
