More Australian beef headed for Europe under new EU trade deal

More Australian beef will be served on the dining tables of Europe under a new free trade deal with the European Union that cuts most export tariffs on Australian products.

The deal, worth about A$10bn ($7bn; £5.2bn) was inked on Tuesday with Australia's prime minister and the head of the European Commission describing it as a mutual "win-win".

The deal means Italian-style sparkling wine made in Australia can still be sold as prosecco domestically though the name will be phased out over 10 years for exports.

Australian producers can also continue to use names including parmesan though feta will be subject to "grandfathering and lengthy phase-out periods" due to strict EU rules on naming rights.

Under the deal, eight years in the making, almost all EU tariffs will be lifted on Australian agricultural products such as wine, fruit and vegetables, olive oil, seafood, most dairy products and wheat and barley.

This will mean a saving of about A$37m for local wine producers and exporters, the government said.

For Australian consumers, the deal will mean cheaper European wine, spirits, biscuits, chocolates and pasta.

The issue of food naming rights is sensitive in both Europe and Australia and Australia is now the only country outside of Italy to have secured EU permission to use the name prosecco.

Referring to the matter, Australian Prime Minister Anthony Albanese noted the country's modern history was built on migrants.

"That's why whether it's Greeks coming here and creating feta, or Italians coming and doing parmesan or people from Eastern Europe doing kransky sausages - it's a connection with Europe."

European Commission President Ursula von der Leyen said Australia and the EU had a "unique relationship" that was "built for the long term".

The trade agreement was a "perfect balance," she said, as it will be easier for Australians to export to the EU while more EU-made goods will be available in Australia.

But Andrew McDonald from Meat and Livestock Australia said the deal on meat exports was not a fair outcome for Australian farmers who had wanted an annual quota of at least 50,000 tonnes - the deal allows for about 30,000 tonnes, up from 3,389.

"This is unquestionably a missed opportunity for Australia's red meat producers, processors and exporters," he said.

Australia and the EU also signed a new security and defence partnership that will see greater cooperation in the defence industry, counter terrorism, space, and maritime security.

Von der Leyen described the deals as having a focus on "collective resilience" in a world that is "deeply changing".

"A world where great powers are using tariffs as leverage and supply chains as vulnerabilities to be exploited in our story," she said, adding that "trust matters more than transactions".

She also announced greater cooperation on several critical minerals projects between Australia and the EU, including lithium and tungsten, and praised Australia for its "trailblazing" social media policy that bans under-16s from having accounts on ten platforms.