2019 Annual Report on the Implementation of Eu Trade Agreements

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The European Union (EU) has been making significant progress in its efforts to expand trade agreements with various countries around the world. This progress is reflected in the recently released 2019 Annual Report on the Implementation of EU Trade Agreements.

The report outlines the achievements made in the implementation of the EU’s trade agreements in 2019. It covers the full spectrum of the EU’s trade agreements, including those with Japan, Canada, Mexico, and Singapore. Some of the notable achievements highlighted in the report include the following:

Increased exports: The EU’s trade agreements have led to an increase in exports to partner countries. For instance, exports to Canada increased by 10% in 2018, while exports to Japan increased by 6%.

Tariff reductions: The EU’s trade agreements have led to the elimination of tariffs on many goods, thereby increasing the competitiveness of EU exporters. For example, the EU-Japan Economic Partnership Agreement eliminated tariffs on 97% of goods traded between the two regions.

Improved protection for EU products: The trade agreements have also improved protection for EU products, including geographical indications (GIs). For example, the EU-Canada Comprehensive Economic and Trade Agreement (CETA) has a built-in mechanism that protects over 140 European GIs in Canada.

Improved market access for EU services: The EU’s trade agreements have also improved market access for EU services. For instance, the EU-Singapore Free Trade Agreement (FTA) eliminates many non-tariff barriers to trade in services.

The 2019 Annual Report also highlights the EU’s efforts to enforce existing trade agreements. This includes the establishment of a dedicated enforcement unit within the European Commission, which has been tasked with ensuring that EU trade partners comply with their commitments.

In conclusion, the 2019 Annual Report on the Implementation of EU Trade Agreements shows that the EU has made impressive progress in expanding its trade agreements with partner countries around the world. The report highlights numerous achievements, including increased exports, tariff reductions, improved protection for EU products, and improved market access for EU services. It is evident that the EU is committed to enhancing its trade relationships with the wider global community and promoting fair trade practices.