Trade in goods between Australia and the EU could increase by 37 per cent in the case of an ambitious trade deal and the trade in services could increase by 8 per cent.
EU interior ministers were pessimistic on Tuesday about resolving a deadlock over proposed asylum reforms, reducing the likelihood of settling the issue before an EU summit on June 28-29.
In an interview with the Sunday edition of Germany's Frankfurter Allgemeine Zeitung, Merkel presented her vision of how the eurozone should develop, among many other topics.
The European Union (EU) Commission has announced its 2019 budget draft proposal. Accordingly, the EU's revenues in the 2019 budget will amount to 149 billion euros and expenditures.
The EU's bilateral annual trade with New Zealand was 8.7 billion euros in 2017, with the bloc being the country's second largest trading partner after Australia.
From the moment that US president Donald Trump announced his renunciation of the Iran nuclear accord on Tuesday night, European leaders proclaimed their determination to save it.