The European Court of Justice has ruled that the provisions relating to arbitration between the investor state (including a special tribunal under some free trade agreements) fall within the shared jurisdiction between the European Union and its Member States and that, for this reason, their ratification should be authorised by both the EU and each of the 28 Member States. [82] Even if a trade agreement is reached, all new controls will not be removed, as the EU requires that certain products (such as food) from third countries be checked. Businesses need to be prepared. One study showed that eu trade agreements implemented during the 1993-2013 period « reduced quality-adjusted prices by almost 7%. » [83] The EU Framework Report (Languages) published in November 2020 and foreword by DG Commerce Director-General Sabine Weyand (other languages) takes stock of the successes in 2019 and the 36 main EU preferential trade agreements. The accompanying staff working document provides detailed information in accordance with the trade agreement and trading partners. They have also evolved to cover a wider range of areas to facilitate trade. These include public procurement opportunities, business visas, mutual recognition of professional qualifications, product certification, intellectual property rights and cross-border trade in services. The EU is an example of a regional trade agreement. In short, the EU is a political and economic union that currently consists of 27 Member States. The EU has free trade agreements with 37 partners that have entered into full force, including South Korea, Japan and Singapore, as well as free trade agreements with 43 partners, such as Canada and Ukraine, which are provisionally implemented.

In May, the EU and Mexico also reached an agreement on modernising the existing agreement. Negotiations for new free trade agreements are underway with 19 countries, including Australia and New Zealand. Trade policy The EU`s position on trade, negotiating areas, background documents and news. This has been agreed in principle, with some outstanding technical issues to be resolved sometime in 2019. Modern EU free trade agreements want to do more than reduce tariffs. In addition, they aim to improve market access by removing non-tariff barriers (for example. B, regulatory cooperation), liberalizing trade in services and opening markets to public procurement. These agreements go far beyond the scope of the WTO. These include competition rules, access to foreign direct investment and rules guaranteeing sustainability (employment and the environment).

The EU is working to modernise previous agreements with Chile and Mexico, which contain only fundamental economic aspects. The EU insists that the UK must respect these rules precisely enough – so that British businesses have no advantage – but the UK government says it wants the freedom to move away. Fact sheets, Vietnamese trade in your city, texts of agreements, stories of exporters Even if a commodity comes from the export country, its origin still needs to be verified to obtain a reduction in tariffs or total suppression. This can be done by a document, called proof of origin, which is established by the competent authority of the exporting country. To date, more than 20 of these existing agreements, covering 50 countries or territories, have been shaken up with the exception of the I.V. and will begin on 1 January 2021. Based on 2018 figures, this represents about 8% of total trade in the UK. But it is clear that new agreements with some countries will not be ready in time.