The European Commission and Australia have forged a trade partnership to enhance the EU’s access to critical raw materials, essential for manufacturing batteries and driving the transition to clean energy. Australia, renowned for its production of aluminum ore, cobalt, copper, lithium, and rare earth elements, will play a vital role in diversifying the EU’s supply chain and strengthening its position in the global market for critical raw materials.
This partnership aligns with the EU’s European Green Deal, which aims to decarbonize transport and reduce carbon emissions through the promotion of electric vehicles. The trade agreement will facilitate cooperation on sustainable production, research and innovation, and the integration of environmental, social, and governance (ESG) standards. It will also encourage investment from the EU into Australian renewable energy projects.
The partnership with Australia adds to the growing list of countries with whom the EU has similar agreements, including Argentina, Canada, Chile, Democratic Republic of Congo, Greenland, Kazakhstan, Namibia, Norway, Rwanda, Ukraine, Uzbekistan, and Zambia. This network of partnerships underscores the EU’s commitment to securing reliable and sustainable sources of critical raw materials, essential for its economic competitiveness and the development of clean energy technologies.
