Who Has a Free Trade Agreement with the Eu

The European Union (EU) is a union of 27 European countries that have come together to promote economic and political cooperation among themselves. One of the key ways in which the EU engages with other countries is through free trade agreements (FTAs). These agreements are designed to promote trade between the EU and other countries by reducing barriers to trade, such as tariffs and regulations.

But who exactly has an FTA with the EU? In this article, we`ll take a closer look at some of the countries that have free trade agreements with the EU.

Firstly, it`s worth noting that not all countries are eligible for an FTA with the EU. The EU has strict criteria that countries must meet before they can enter into an FTA. For example, they must have a stable democratic government and respect human rights. They must also commit to adopting EU standards and regulations in certain areas, such as product safety and labor laws.

With that in mind, here are some of the countries that currently have an FTA with the EU:

1. Canada

The Comprehensive Economic and Trade Agreement (CETA) between Canada and the EU was provisionally implemented in September 2017. The agreement eliminates tariffs on most goods traded between the two countries and opens up new opportunities for trade in services, investment, and public procurement.

2. Japan

The EU-Japan Economic Partnership Agreement (EPA) entered into force in February 2019. The agreement eliminates tariffs on 97% of goods traded between the two countries and provides new opportunities for trade in services and investment.

3. South Korea

The EU-South Korea FTA entered into force in July 2011. The agreement eliminates tariffs on most goods traded between the two countries and provides new opportunities for trade in services and investment.

4. Mexico

The EU-Mexico Global Agreement entered into force in October 2000. The agreement eliminates tariffs on most goods traded between the two countries and provides new opportunities for trade in services and investment.

5. Singapore

The EU-Singapore FTA entered into force in November 2019. The agreement eliminates tariffs on most goods traded between the two countries and provides new opportunities for trade in services and investment.

6. Vietnam

The EU-Vietnam FTA entered into force in August 2020. The agreement eliminates tariffs on most goods traded between the two countries and provides new opportunities for trade in services and investment.

It`s worth noting that the UK, which left the EU in January 2020, has negotiated its own FTA with the EU. The agreement, known as the Trade and Cooperation Agreement, was provisionally implemented on January 1, 2021. The agreement eliminates tariffs on most goods traded between the UK and the EU and provides new opportunities for trade in services and investment.

In conclusion, the EU has free trade agreements with a number of countries around the world, including Canada, Japan, South Korea, Mexico, Singapore, and Vietnam. These agreements are designed to promote trade and investment between the EU and these countries, while also promoting the adoption of EU standards and regulations.