The European Union (EU) negotiates trade agreements on behalf of all its member states, which means that some Member States are prohibited from negotiating individual trade agreements with third countries. This designation does not affect the status position and is consistent with UN Security Council Resolution 1244/99 and the ICJ`s opinion on Kosovo`s declaration of independence. Singapore: EU and Singapore signed a free trade agreement and investment protection agreement at the ASEM summit on 18-19 October 2018. The European Parliament approved both agreements in February 2019. Germany is very pleased with these agreements, as Singapore is one of Germany`s main trading partners in the ASEAN region, despite its small size. The ratification of the free trade agreement was concluded on 8 November by Council decision and the agreement entered into force on 21 November 2019. The Investment Protection Agreement sets high and clear standards for investment protection, which preserve the state`s right to regulation, and establishes a reformed dispute resolution procedure, modelled on CETA. To learn more about these two agreements, visit the European Commission`s website. This interactive map provides an overview of EFTA`s preferential trade relationships with partners around the world. Click on any country that displays in color for more information. The limits presented do not affect their legal status. An image of the map (large version) can be downloaded. Free trade among its members was one of the founding principles of the EU.

Beyond its borders, the EU is also committed to the liberalisation of world trade. The EU is an example of a regional trade agreement. In short, the EU is a political and economic union that currently consists of 27 Member States. Economic Partnership Agreements, EPAs are trade and development agreements negotiated between the EU and partners in Africa, the Caribbean and the Pacific (ACP) and which participate in regional economic integration processes. The EPA goes beyond traditional free trade agreements, focusing on the development of ACP countries, such as taking into account their socio-economic conditions. B and helps countries benefit from the agreements. In addition, EPAs fully open up EU markets, while allowing ACP countries to spend long transition periods in order to open up in part to EU imports while protecting sensitive sectors. A free trade agreement aims to promote trade – usually with goods, but also sometimes with services – by making it cheaper. This is often achieved by reducing or eliminating so-called tariffs – taxes or taxes on cross-border trade. The EU has free trade agreements with 37 partners that have entered into full force, including South Korea, Japan and Singapore, as well as free trade agreements with 43 partners, such as Canada and Ukraine, which are provisionally implemented.

In May, the EU and Mexico also reached an agreement on modernising the existing agreement. Negotiations for new free trade agreements are underway with 19 countries, including Australia and New Zealand. Why Switzerland Is Concerned About British Trade After Brexit Since the early 1990s, the European Free Trade Association has established a vast network of free trade contractual relationships around the world. The aim of EFTA policy in third countries is to safeguard the economic interests of its Member States, to support and strengthen the process of European and inter-regional integration, and to contribute to global efforts to liberalise trade and investment. The UK and THE EU are negotiating a trade deal that is expected to start on 1 January 2021, when the new UK-EU relationship will begin.