EU trade agreements: delivering for Europe's businesses

The 4th Annual Report on the Implementation of the European Union's Trade Agreements in 2019 (published on the 12 November 2020) shows the benefits of the European Union expanding global trade network. Despite tensions in the global trade arena, the report shows that EU trade agreements continued to facilitate fair and sustainable trade and solidify the framework of international rules.

Trade with the 65 preferential partners covered in the report grew by 3.4% in 2019, while the EU's total external trade grew by 2.5% overall. The EU's trade agreements with Canada and Japan have especially boosted trade, by nearly 25% and 6%, respectively, since their entry into force. The report looks in more detail at the first year of implementation of the EU-Japan Economic Partnership Agreement and shows that the agreement:

• boosted bilateral trade in goods by 6% across all sectors compared to 2018;
• particularly favoured EU exports in categories with big tariff cuts, such as textiles, clothing and footwear, which grew by 10% on average;
• supported a 16% surge in EU agri-food exports, which make up 12% of total EU exports to Japan.

More details on the report are available online.
Source: European Commission

Published: November 2020