Dialogue between Australia & EU is back on

Trade Minister Don Farrell has met with the European Parliament's Committee on International Trade in Canberra to discuss a mutual commitment to finalising the Australia-EU trade agreement.

Bernd Lange, chairman of the committee, says Europe wants a deal by early next year and that it could be finalised as early as February.

Minister Farrell says that both parties are ambitious to "boost two-way trade and investment, promote diversification of trade, and deliver improved opportunities to export high-quality and sustainable produce for EU and Australian consumers".

Trade negotiations between Australia and the EU have stalled until now due to Australia's perceived inaction on climate change, and Australia's sudden withdrawal from the French submarine deal.

Mr Farrell said that the two parties discussed sustainability, Australia's ambition to become a leading global supplier of green energy as well as mineral resources and working visas.

He told ABC Radio: "Both groups were very, very positive about the prospects … we’ve made it clear that there are certain things that we need to get out of this trade agreement and one of those is greater access for our agricultural products … but all of the indications are now that the two impediments to an agreement, namely the previous government’s approach to climate change and the cancellation of the naval submarine agreement, both of those are out of the way."

Geographical indicators for food products were also discussed but Mr Lange said that he believed that trademark naming rights were not insurmountable.

“If we make clear the trademark is not really in competition to the protected trademark in the European Union, then I think we can find a compromise,” he said.

Prosecco remains a key issue of contention but a compromise could be products labelled as “Australian-style prosecco” or “Australian-style feta”.

The deal would expand opportunities for Australia in a market of almost 450 million people, with a gross domestic product of around $23 trillion, according to the Minister for Trade.

He added: "Australia could only agree to a trade deal that involves substantial new market access for our key agricultural products such as beef, sheep meat, dairy, sugar, rice and grains.

"This would mean the EU delivering outcomes that go significantly beyond Australia’s modest access under World Trade Organization arrangements."

While what exactly this will mean for Australian wine is not yet clear.

Australian Grape & Wine said, "Negotiations on wine related issues are still proceeding in parallel to the main FTA discussions but will be finalised as part of the overall package."

AGW have also met with the Department of Agriculture around the next round of negotiations on the Free Trade Agreement with India.

"We are seeking a lowering of the minimum export price for wine as well as progress on technical cooperation," it said.