SYDNEY, Aug 24 (Reuters) - Australia's Trade Minister Don Farrell has dangled easier access to the country's vast critical minerals sector as part of negotiations over a free trade agreement with the European Union ahead of possible further talks as soon as next week. Farrell told Reuters in an interview on Thursday that a free trade agreement would simplify European investment in the country's burgeoning critical minerals sector, in part by smoothing access through mandatory Foreign Investment Review Board (FIRB) screening. "One of the big advantages we've got in this relationship is our access to critical minerals, rare earths, hydrogen and ammonia," Farrell said. "Other countries are looking to invest in our critical minerals and other renewables. Australia was an especially attractive place for critical minerals investment from the United States under U.S. Inflation Reduction Act rules because it was one of the few countries to have both mineral deposits and a free trade agreement with the U.S., said Farrell.

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Persons: Don Farrell, Farrell, China, we've, they've, Annalena Baerbock, teleconference, Dombrovskis, Lewis Jackson, Kirsty Needham, Michael Perry Organizations: SYDNEY, Australia's Trade, European Union, Reuters, Investment, Board, Foreign, U.S, EU, Trade, Thomson Locations: Australia, Germany, China, Sydney, Europe, Japan, South Korea, Singapore, United States