The European Union (EU) has signed a number of free trade agreements (FTAs) with countries and regions around the world. These agreements are aimed at reducing barriers to trade and promoting economic integration between the EU and its partners. In this article, we will discuss some of the major FTAs that the EU has signed.
- Canada-EU Comprehensive Economic and Trade Agreement (CETA)
CETA is an FTA signed between Canada and the EU in 2016. The agreement aims to eliminate 98% of tariffs on goods traded between Canada and the EU, as well as provide greater access to services and investment opportunities. CETA also includes provisions on intellectual property, labor and environmental standards, and dispute resolution mechanisms.
- Japan-EU Economic Partnership Agreement (EPA)
The Japan-EU EPA was signed in 2018 and is the largest bilateral trade agreement ever signed by the EU. The agreement aims to eliminate tariffs on 99% of goods traded between Japan and the EU, as well as provide greater access to services and investment opportunities. The EPA also includes provisions on intellectual property, labor and environmental standards, and dispute resolution mechanisms.
- South Korea-EU Free Trade Agreement (FTA)
The South Korea-EU FTA was signed in 2010 and is the EU’s first FTA with an Asian country. The agreement aims to eliminate tariffs on 98.7% of goods traded between South Korea and the EU, as well as provide greater access to services and investment opportunities. The FTA also includes provisions on intellectual property, labor and environmental standards, and dispute resolution mechanisms.
- Mercosur-EU Free Trade Agreement
The Mercosur-EU FTA is an agreement between the EU and the South American trading bloc Mercosur (which includes Argentina, Brazil, Paraguay, and Uruguay). The agreement was signed in 2019 and aims to eliminate tariffs on a wide range of goods traded between Mercosur and the EU, as well as provide greater access to services and investment opportunities. The agreement has faced criticism from environmental and human rights activists, who are concerned about the impact of increased trade on the Amazon rainforest and the rights of indigenous peoples in the region.
- EU-Singapore Free Trade Agreement (FTA)
The EU-Singapore FTA was signed in 2018 and is the EU’s first FTA with a Southeast Asian country. The agreement aims to eliminate tariffs on 84% of goods traded between Singapore and the EU, as well as provide greater access to services and investment opportunities. The FTA also includes provisions on intellectual property, labor and environmental standards, and dispute resolution mechanisms.
- EU-Vietnam Free Trade Agreement (FTA)
The EU-Vietnam FTA was signed in 2019 and aims to eliminate tariffs on 99% of goods traded between Vietnam and the EU, as well as provide greater access to services and investment opportunities. The FTA also includes provisions on intellectual property, labor and environmental standards, and dispute resolution mechanisms. The agreement has faced criticism from some human rights activists, who are concerned about the human rights situation in Vietnam.
These are just a few examples of the free trade agreements that the EU has signed. The EU has also signed FTAs with countries and regions such as Mexico, Chile, and the Association of Southeast Asian Nations (ASEAN). The EU has also been involved in negotiations for a Transatlantic Trade and Investment Partnership (TTIP) with the United States, although negotiations have been on hold since 2016.
In conclusion, free trade agreements are an important tool for promoting economic integration and reducing barriers to trade. The EU has signed a number of FTAs with countries and regions around the world, which have helped to increase trade and investment flows between the EU and its partners.
