The European Union (EU) has been at the forefront of globalization and international trade for decades. The EU is the world`s largest trading bloc, and it has trade agreements with several countries worldwide. Free trade agreements (FTAs) are a critical component of the EU`s trade policy, as they allow for the free movement of goods and services between participating countries. In this article, we will discuss the countries that have free trade agreements with the EU.
Switzerland
Switzerland is one of the most significant trading partners of the EU, and it has a free trade agreement that came into effect in 1972. The agreement covers several sectors, including agriculture, industry, financial services, and public procurement. The EU and Switzerland are currently negotiating a new framework treaty, which is expected to cover a broader range of issues and further enhance their bilateral relationship.
Norway, Iceland, and Liechtenstein
Norway, Iceland, and Liechtenstein are members of the European Economic Area (EEA) and have agreements that allow them to participate in the EU`s internal market. These agreements provide for the free movement of people, goods, services, and capital between the EU and the three countries.
Canada
The EU and Canada signed a Comprehensive Economic and Trade Agreement (CETA) in 2016. The agreement aims to eliminate tariffs and other trade barriers between the two economies. CETA covers several sectors, including agriculture, fisheries, and services.
South Korea
The EU and South Korea signed a free trade agreement (FTA) in 2011. The agreement aims to eliminate tariffs and other trade barriers between the two economies and promote investment and trade in goods and services. The agreement covers several sectors, including agriculture, industry, and services.
Mexico
The EU and Mexico signed a comprehensive free trade agreement in 2000, which was modified and expanded in 2018. The agreement aims to eliminate tariffs and other trade barriers between the two economies, promote investment, and enhance cooperation in several sectors, including agriculture, industry, and services.
Japan
The EU and Japan signed an Economic Partnership Agreement (EPA) in 2018. The agreement aims to eliminate tariffs and other trade barriers, promote investment, enhance cooperation in several sectors, and establish common rules and standards. The agreement covers several sectors, including agriculture, industry, and services.
In conclusion, the EU has free trade agreements with several countries worldwide, covering various sectors, including agriculture, industry, and services. These agreements facilitate the free movement of goods and services between the EU and participating countries, promote investment, and enhance cooperation in several sectors.