Caobisco welcomes key free trade deal between EU and Australia

The Caobisco European confectionery trade organisation has praised the delivery of a major Free Trade Agreement between the EU and Australia, reports Neill Barston.

Significantly, confectionery has emerged as a winner in the deal, with previous sugar tax duties of 5% being eliminated, paving the way for further export opportunities to develop.

As Caobisco, which is set to play its part in our World Confectionery Conference this September noted, the removal of these tariffs will help European producers compete on a more level playing field in a dynamic and high-value market where EU products are well recognised for their quality, innovation and premium positioning.

The deal will make it easier for many product areas of Austalian produce to enter European markets, with considerable optimism that there will be strong mutual benefit.

Furthermore, as the organisation added, Australia is an important and growing market for high-quality food products. Lower tariffs will make it easier for European confectionery manufacturers, including a large number of small and medium sized enterprises, to access the Australian market, expand exports and strengthen their presence in a competitive but dynamic global environment.

At a time of growing geopolitical uncertainty and increasing pressure on global supply chains, strengthening trade relations with reliable partners such as Australia is particularly important.

In addition, Caobisco added that the agreement therefore represents a positive step towards improving export opportunities, supporting competitiveness and maintaining value-added production and jobs in the European Union.

For the European food and drink industry – one of Europe’s largest manufacturing sectors and a key contributor to the EU trade surplus – the agreement confirms the importance of balanced and forward-looking trade policy. By improving market access for high-value products such as biscuits, chocolate and confectionery, the EU–Australia FTA supports sustainable growth and innovation across the sector.

In conclusion, Caobisco confirmed that it will continue to support balanced, fact-based and forward-looking trade agreements that strengthen competitiveness, improve export opportunities and support the long-term growth of the EU food manufacturing sector.

• Register for this year’s World Confectionery Conference, which takes place at the View, London, on 10 September at confectioneryconference.com