Australian Trade Minister Don Farrell is in Brussels this week, trying to close a trade deal that has been nearly a decade in the making. The EU–Australia Free Trade Agreement is tantalisingly close, although EU Commission President Ursula Von der Leyen has yet to confirm a visit to Australia to seal the deal.

Both parties are keen to diversify their trading partners in the wake of US President Donald Trump’s assault on the global trading system.

The European Union and Australia face an increasingly hostile global trade environment, driven by US tariff volatility and China’s assertive trade practices. The EU–Australia Free Trade Agreement represents exactly the kind of initiative needed to reduce dependence on both and build strategic resilience.

For the EU, despite the overwhelmingly positive benefits on offer, closing the deal is a tough proposition, facing strong opposition from some EU member states’ farming communities.

The EU–Mercosur Free Trade Agreement with the South American trade bloc was signed last month but only after a bruising battle, and mass tractor protests in Brussels and Paris. The European Parliament then referred the deal to the EU Court of Justice, delaying its ratification, which is far from assured.

Clearly, agricultural market access is politically toxic for the EU.

An EU–Australia agreement could boost Australia’s economy by up to $A7.4 billion by........

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