The EU has agreed on a sweeping free trade deal with Australia, eliminating tariffs on critical minerals and future hydrogen and derivative imports.

Eight years in the making, the deal was made during European Commission President Ursula von der Leyen’s visit to Australia, where she met with Prime Minister Anthony Albanese.

It will permanently remove all tariffs on most Australian energy and resource exports to the EU, including hydrogen and its carriers, which could have faced up to 5.5% import fees.