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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EU
Australian and EU negotiators have failed to agree on a free trade agreement due to Australian concerns over access to EU markets for agricultural products. Bloomberg reported ahead of today's talks that Australia Trade Minister Don Farrell was unhappy with the market entry offered by the EU for Australian beef, sheep and sugar, with Farrell saying he was prepared to walk away from the negotiations if the EU fails to improve its position.
- Farrell said: “I will not go back to Australia with the offer that’s currently on the table."
- Australian Prime Minister Antony Albanese, in Europe to attend the NATO summit, said at a presser with German Chancellor Olaf Scholz yesterday: “Ultimately, our negotiations with the EU will only be concluded when we have a good deal, and one that includes new market access for our agricultural products.”
- BBG: "The EU was Australia’s third-largest two-way trade partner — worth A$97 billion ($65 billion) in fiscal 2022 — and second-largest source of foreign investment."
Figure 1: Australia's Trade with EU Rose in 2022 as Third Largest Partner
Source: Department of Foreign Affairs and Trade, Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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