EU-Australia FTA removes timber tariffs

The EU-Australia free trade agreement removes tariffs on timber and wood products, lowering the cost of European imports and reshaping competition in the Australian market. Australian Prime Minister Anthony Albanese and European Commission President Ursula von der Leyen signed the deal this week at Parliament House in Canberra this morning, concluding eight years of negotiations. One element welcomed by the sector is the absence of a requirement for Australia to align with the EU’s deforestation framework, the EU Deforestation Regulation. This avoids additional compliance costs and leaves regulatory settings between the two markets only partially aligned ...