Focus Areas
Europe And Australia
Like-Minded And Trusted Partners
Cooperation between Europe and Australia has never been more important.
The EABC promotes closer institutional, business and organisational cooperation to solve common challenges and capitalise on the exciting and vast opportunities we share, where our strategic interests, needs and capabilities are complementary.
We advocate for modernising and expanding the bilateral architecture, to remove unnecessary obstacles and establish the frameworks to facilitate the flow of ideas, technology, goods and services, people and investment from which both markets stand to gain.
Focus Areas For Cooperation
INTERNATIONAL DEVELOPMENT & SECURITY
International cooperation with trusted partners, like Europe and Australia, in the Indo-Pacific holds the key to a prosperous, sustainable, and secure future, with the region's potential to drive global growth.
Rather than retreating to economic and security nationalism, it is clear that a prosperous, sustainable and secure future lies with strengthening international cooperation with trusted partners who share strategic priorities and values. Europe and Australia are increasingly focused on cooperation in the Indo-Pacific to promote stability, security, connectivity and sustainable development. With 60 percent of the world’s population the Indo-Pacific is expected to be the largest contributor to global growth over the next three decades.
MULTILATERAL RULES-BASED SYSTEM
Europe and Australia unite to uphold the rules-based global order, emphasizing the importance of free trade as a key driver of economic growth and job creation in a challenging geopolitical environment.
Against the backdrop of an increasingly challenging geopolitical environment, there is shared strategic interest for deepening collaboration comprehensively between likeminded partners who share a commitment to upholding the rules-based global order. Free trade is a foundational principle for both Europe and Australia and has contributed to decades of economic growth and social development. Joint efforts to preserve and revive the rules-based trading system are a critical area of cooperation with trade supporting one in five jobs in both Europe and Australia.
SUSTAINABLE TRANSITION
Europe and Australia unite for sustainable growth, tackling climate change and addressing geopolitical risks through coordinated efforts in decarbonization, renewable energy, circular economy solutions, and green finance.
Climate change and environmental degradation pose an existential threat to our societies and economies, amplifying geopolitical, security and economic risks. Like any disruptive force, it also creates huge opportunities as Europe and Australia seek to accelerate decarbonisation across our economies and move towards more sustainable modes of production and consumption. Increased coordination on standards and regulations will facilitate cooperation in areas ripe for growth including renewable energy, critical minerals, decarbonisation technologies, energy efficiency and circular economy solutions and green finance, to name a few.
SCIENCE, TECHNOLOGY & INNOVATION
Europe and Australia collaborating on STI cooperation unlocks economic productivity, competitiveness, and successful digital and green transitions, leveraging shared opportunities to address common challenges.
STI, alongside international trade, is the most powerful engine for economic productivity, complexity and competitiveness and a critical enabler of the digital and green transitions. In order to respond to common challenges, harness shared opportunities and capitalise on our comparative advantages, enhancing STI cooperation between Europe and Australia will be key.
DIGITAL TRANSFORMATION
Enhanced coordination between Europe and Australia is seen as a key opportunity to leverage digitalization for future competitiveness, growth, and job creation, while effectively addressing challenges such as regulating emerging technologies.
Digitalisation of industry, the economy and society are crucial for future competitiveness, growth, jobs and access to services. We see enhanced coordination between Europe and Australia as a key opportunity to harness the benefits of new developments, while addressing the potential challenges including the regulation of emerging technologies.
TRADE & INVESTMENT
Expanding economic partnerships between Europe and Australia, including Free Trade Agreements with the European Union and the United Kingdom, offer immense opportunities for growth, given their substantial trade flows and investments.
As a region Europe constitutes Australia’s largest economic partner, with aggregate annual trade flows in excess of $A114 billion, and total stocks of two-way investment of over $A2.5 trillion. We enormous opportunities to expand these vital economic partnerships, including through Free Trade Agreements between Australia and the European Union and the United Kingdom.
