The Resources Minister says a Brussels push for the FTA to outlaw “dual-pricing” of gas and critical minerals could crimp Australia’s ability to back its own industry.
| Resources Minister Madeleine King has told the European Union to “pay a bit more respect” to Australia in, amping up a dispute over resources pricing that has become one of the biggest obstacles to landing a trade deal.
“I disagree with the proposition that there should be a restraint on Australia to set domestic policy around the critical minerals sector,” Ms King told reporters in London. “There are a number of ways we can drive this sector. One is international investment, and we are seeking that. We talk to partners about how they might invest,” she said.
“A party shall not impose a higher price for exports of energy goods or raw materials to the other party than the price charged for such a good when destined for the domestic market,” the EU-Chile FTA says, in a chapter entitled “energy and raw materials”.There is a potential loophole: a later clause permits Chile’s government to help develop its industrial base with subsidised or cheaper raw materials.
She said the EU wanted to help Chile not only extract and export the commodities, but also to become involved in processing and other value-adding.
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