How Many Countries Have Trade Agreements with the Eu
The European Union (EU) is one of the largest trade partners in the world, accounting for about 16% of global imports and exports in 2020. The EU has a common trade policy and negotiates trade agreements on behalf of its member states.
Currently, the EU has trade agreements with 71 countries, covering a wide range of products and services. These agreements eliminate tariffs and other trade barriers, facilitate investments, and promote regulatory cooperation.
Some of the EU’s major trade agreements include:
1. Canada: The Comprehensive Economic and Trade Agreement (CETA) between the EU and Canada entered into force in 2017 and eliminated tariffs on most goods and services.
2. Japan: The EU-Japan Economic Partnership Agreement (EPA) came into effect in 2019, creating one of the world’s largest free trade areas.
3. South Korea: The EU-South Korea Free Trade Agreement (FTA) has been in force since 2011, leading to increased trade and investment flows between the two sides.
4. Mexico: The EU-Mexico Global Agreement came into effect in 2000, and a new updated version was signed in 2018 to modernize and expand the trade and investment relationship.
5. Mercosur: The EU and the Southern Common Market (Mercosur) countries (Argentina, Brazil, Paraguay, and Uruguay) concluded a political agreement in 2019, which includes a comprehensive trade deal.
These agreements not only boost trade and economic growth but also promote sustainable development, human rights, and environmental protection. They also serve as a powerful tool to promote peace and stability by fostering closer ties between countries.
Apart from the above-mentioned countries, the EU also has trade agreements with countries such as Singapore, Vietnam, Chile, Colombia, Ecuador, Morocco, Tunisia, and Egypt, among others.
In conclusion, the EU’s trade agreements play a significant role in promoting international trade and economic development. With trade liberalization being a key global trend, the EU’s expanding network of trade agreements is expected to facilitate more trade and investment flows in the years to come.