The agreement also secures European access to Australia’s critical minerals while limiting politically sensitive agricultural imports through quotas and safeguard clauses. Australia is currently the eleventh-largest export market for EU wines, with exports exceeding €300 million in the last campaign. Sparkling wines account for about half of this trade, reflecting strong Australian demand for EU “bubbles.”
The agreement will lead to the immediate elimination of the 5 percent import tariffs on EU wines and the modernisation of the bilateral wine agreement. This includes simplified recognition of international winemaking practices as well as stronger protection of geographical indications.
