EU and Australia plan to wrap up negotiations on a free trade agreement this year. Jean Asselborn, Luxembourg's foreign minister, said there was "significant space" to target ties in both countries concerned, and they had received support from industry groups in particular.
Asselborn also added that he warmly welcomes cooperation in systems such as space, research and innovation, or finance, and that sustainability in these areas should be a "joint responsibility" in tackling climate change. Based on this, products like Australia and Luxembourg, ArcelorMittal and Paul Wurth have a long history of iron and steel with expenses operating Down Under.
Australian Ambassador Caroline Millar, in her keynote speech for the event, said that Luxembourg is "a much more important partner than one might think", describing it as "like-minded democracies based on shared values and rules" in both countries, apart from just the middle road of trade.
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