The European Union, with a population of 450 million, stands as Australia's third-largest trading partner, boasting a trade relationship valued at over $150 billion annually.

Negotiations for a free-trade agreement between Australia and the EU have resumed after being stalled, primarily due to U.S. tariffs imposed by former President Donald Trump.

The resumption of these talks comes in light of global uncertainties created by U.S. tariffs, which have significantly impacted traditional trading relationships.

Trade Minister Don Farrell expressed optimism about reaching an agreement following his recent meetings with European counterparts at the OECD summit in Paris, noting a renewed appetite for a deal on both sides.

Farrell believes both Australia and the EU are now eager to finalize the trade deal, citing a shift in global trade dynamics.

Concerns over geographic indicators had previously stalled negotiations, particularly regarding Australian producers using European terms like prosecco and feta for products not originating from specific regions.

EU ambassador Gabriele Visentin is set to address the National Press Club, emphasizing the EU's role as a significant global power amidst these changing trade dynamics.

Visentin's upcoming speech will focus on strengthening trade ties with Australia as negotiations for the free-trade agreement progress.

Farrell highlighted the potential for Australian exports in the EU market, stating, 'We've got lots of things that we can sell to the Europeans.'

The EU has consistently objected to Australian producers using European terms for non-region-specific products, complicating the negotiations.