"We cannot be over-dependent on any supplier for such crucial ingredients, and that is precisely why we need each other, von der Leyen told Australia's parliament. For both Europe and Australia, getting China right is a strategic imperative, and this is why bringing to life our critical minerals partnership will be crucial to our success."
"The removal of almost all import tariffs on Australian critical minerals into the EU would help stabilise global supply chains. The agreement will also remove more than 99 percent of tariffs on EU goods exports to Australia, cutting 1 billion euros ($1.2bn) a year in duties for companies."
The EU and Australia have finalized a trade agreement that eliminates tariffs on nearly all exports of Australian critical minerals. This deal addresses concerns over China's dominance in the supply of rare earths, which are vital for technology production. European Commission President Ursula von der Leyen emphasized the importance of this partnership for both regions. The agreement is expected to significantly boost trade, with EU exports to Australia projected to increase by 33 percent over the next decade, benefiting both economies.
Read at www.aljazeera.com
Unable to calculate read time
Collection
[
|
...
]