Brussels, 17/03/2011 (Agence Europe) - As part of his tour of Australasia, EU Trade Commissioner Karel De Gucht met Australian Trade Minister Craig Emerson in Sydney on Wednesday 16 March, where both men stressed the importance of a trade deal between the EU and Australia, and agreed that such a deal was do-able. Australian Prime Minister Julia Gillard argued the same in her meeting with President of the European Commission José Manuel Barroso on the sidelines of the ASEM summit in Brussels in October 2010. The EU is Australia's second biggest trading partner with trade between Australia and the EU reaching €53 billion in 2009-10. The EU27 is also the greatest source of foreign direct investment in Australia, investing €100 billion there in 2009. “The EU is a key friend and partner. We have a mutual interest in ensuring that our trade and investment relationship (…) is broad based”, Emerson told reporters. De Gucht and Emerson agreed to boost bilateral cooperation on services and commodities, particularly rare earth. (E.H./transl.fl)