The EU and Australia reached a historic free trade agreement after eight years of negotiations. The deal eliminates most EU tariffs on Australian agricultural products.

Australian wine producers will save approximately AUD 37 million per year. The deal allows Australian sparkling wine to be sold as Prosecco for 10 more years - Australia is the only non-Italian nation with EU permission to do so.

EC President von der Leyen called the agreement a demonstration of collective resilience. A security and defense partnership was also signed covering defense manufacturing, counterterrorism, space, and maritime security cooperation.