The European Union and Australia have finished negotiations on a defense and security pact, the Handelsblatt (Wednesday edition) reported, citing sources from the negotiation circles. All that remains now is setting a signing date, and it could be announced concurrently with a free‑trade agreement that is still being negotiated, EU diplomats told the newspaper.

The pact will allow Australian arms manufacturers to tap into the €60 billion weapons fund for Ukraine. With this agreement, the EU and Australia are redefining their relationship, after 2021 negotiations stalled when Canberra insulted France and moved forward with a submarine deal with the United States.