Australian Prime Minister Anthony Albanese said that the chances of signing a free trade agreement with the European Union look better this year than next year after talks stalled in July.

The discussions between Australia and the EU, which comprises 450 million people, reached an impasse in the middle of the year due to disagreements over allowing more Australian agricultural products into the EU, particularly beef.

In a statement in New Delhi, India, on the sidelines of the G20 summit, Albanese said he raised the issue with German Chancellor Olaf Scholz during the summit and intends to bring it up with French President Emmanuel Macron.

Albanese stated according to the official press conference transcript, "I hope to reach a free trade agreement between Australia and the European Union as soon as possible."

He added, "It is quite clear under the current timelines that the chances of doing so are much greater this year compared to next year, which will see elections held."