Australia and the European Union agreed on a new trade deal after eight years of negotiations.
EU chief Ursula von der Leyen and Australian Prime Minister Anthony Albanese announced the agreement at a ceremony in the Australian capital, Canberra.
It is the latest trade accord signed by the EU in a push to diversify trade as Europe faces challenges from the United States and China.
Albanese and von der Leyen also agreed on a security and defense partnership.
"The EU and Australia may be geographically far apart but we couldn't closer in terms of how we see the world," European Commission President Ursula von der Leyen said after meeting Prime Minister Anthony Albanese in Canberra.
"With these dynamic new partnerships on security and defense, as well as trade, we are moving even closer together."
Albanese called the deal a "significant moment" for Australia.
The European Union is Australia's third-largest two-way trading partner and second-largest source of foreign investment.
