Who Does the Eu Have Free Trade Agreements with

The European Union (EU) is one of the world’s largest and most influential trading blocs, accounting for over 16% of global trade. The EU is also one of the most open economies in the world, with free trade agreements (FTAs) covering more than 60 countries, making it one of the most sought-after trading partners.

The EU`s FTAs are designed to promote trade and investment by removing tariffs and other barriers, making it easier and cheaper for businesses to trade with its partners. The agreements also cover other areas, such as intellectual property, government procurement, and labor and environmental standards.

So, who does the EU have free trade agreements with? Let’s take a closer look.

The EU has free trade agreements in place with countries or blocs such as:

1. Canada – The EU and Canada signed the Comprehensive Economic and Trade Agreement (CETA) in 2017, which is one of the most comprehensive and ambitious agreements ever concluded by the EU.

2. Japan – The EU and Japan signed the Economic Partnership Agreement in 2018, creating one of the world’s largest open economic areas.

3. Mexico – The EU and Mexico signed the updated Global Agreement in 2020, which includes provisions on sustainable development, small and medium-sized enterprises, and trade and gender equality.

4. South Korea – The EU and South Korea signed the EU-Korea Free Trade Agreement (FTA) in 2011, which is one of the most advanced FTAs the EU has ever negotiated.

5. Singapore – The EU and Singapore signed the EU-Singapore FTA in 2018, which is the first bilateral trade agreement between the EU and an ASEAN (Association of Southeast Asian Nations) country.

6. Vietnam – The EU and Vietnam signed the EU-Vietnam FTA in 2019, which is the most ambitious trade agreement ever concluded between the EU and a developing country.

7. Andean Community – The EU has trade agreements with the Andean Community, which includes Bolivia, Colombia, Ecuador, and Peru.

8. Central America – The EU has trade agreements with Central American countries, which includes Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama.

9. Cariforum – The EU has trade agreements with Cariforum countries, which includes Antigua and Barbuda, Bahamas, Barbados, Belize, Dominica, Dominican Republic, Grenada, Guyana, Haiti, Jamaica, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, and Trinidad and Tobago.

In conclusion, the EU’s free trade agreements are vital to its economy, promoting trade and investment and establishing a more stable and predictable environment for businesses. While the EU has free trade agreements with more than 60 countries, those listed above are some of the most notable and strategic for the bloc.