An Overview of the European Union's Preferential Trade Agreements
An Overview of the European Union's Preferential Trade Agreements
The European Unionajor role in world trade, accounting forercent of world exports andercent of world importsncluding intra-EU trade. In comparison, the United States heldercent of world exports andercent of world imports.
The FU currently has free uade or customs agreements withountries and is negotiating accords withore. These accords usually eliminate industrial tariffsyear period, but exclude most farm goods.
The EU is the major exporter to countries that already have free trade or customs agreements with the Union:ercent of their imports9 originated from the EU comparedercent from the US.
Among those countries likely toree trade accord with the EUercent of their imports came from the US comparedrom the EU.
Aboutercent of total world exports9 were covered by EU free trade and customs agreements, compared to almostercent of world exports for US free trade accords.
The EUeveloping countries preferential access to European markets for many products through its Generalized System of Preferencesrussels also gives theoorest African. Caribbean, and Pacific (ACP) countries even greater marketfor manythetnership Agreement.
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Original document.
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