Yesterday 17 June, the British government announced the opening of negotiations for a free trade agreement (FTA) between the United Kingdom and Australia and New Zealand. A free trade agreement between the UK and Australia will be ambitious and comprehensive. It will be modern. “In times of great economic uncertainty, EU trade agreements are increasingly anchors of stability and guarantors of growth. However, we are not using them well enough and the economic potential is not yet being exploited. What we need now is a European implementation team, which brings the benefits for our SMEs closer together. We should strengthen accountability and coherence through specific action plans for trade implementation that accompany our free trade agreements,” said Christoph Leitl, President of EUROCHAMBRES. On 14 October 2019, the European Commission published its third annual report on the implementation of EU Free Trade Agreements (FTA). Despite the challenging global economic environment, European companies have the most Trade with the 65 preferential partners covered in the report increased by 3.4% in 2019, while the EU`s total external trade increased by 2.5%. The EU`s trade agreements with Canada and Japan have particularly boosted trade by almost 25% and 6% respectively since their entry into force. In addition, the report discusses in more detail the first year of implementation of the EU-Japan Economic Partnership Agreement and shows that the agreement: “At a time when the European economy is in crisis, international trade is more important than ever. Our trade agreements make it easier for EU companies to grow through trade outside the internal market.
Tariff reductions boost trade and we see this confirmed in our growing trade with Canada and Japan,” said Valdis Dombrovskis, Vice President and Commissioner of Trade. We are taking many steps to ensure that all eu businesses, large and small, can actually use our trade agreements. That`s why we`ve just launched a new site “Access2Markets” to help them do just that. We also promote international standards such as workers` rights and the environment in our trade agreements. The 4th Annual Report on the Implementation of the European Union`s Trade Agreements in 2019, published today, shows the benefits of our expanding global trade network. Despite tensions in global trade, the report shows that your trade agreement continues to facilitate fair and sustainable trade and strengthen the framework of international rules. Currently, the EU has the largest trade network in the world, with 45 trade agreements applied, covering 77 partner countries. The 4th Annual Report, which covers the period from 1 January to 31 December 2019, includes 36 important preferential trade agreements concluded in 2019 with 65 different partners. In this regard, the report highlights, inter alia, the following results: the report shows continued growth in trade under our trade agreements and further underlines that the EU agri-food sector has also been an important beneficiary of EU trade agreements, a fact often overlooked in public debate, including the future of the EU-Mercosur agreement. . . .