November 20, 2022

Which Countries Have Free Trade Agreements with the Eu

Free trade is an important aspect of the global economy. This concept allows countries to trade goods and services with each other without restrictions, tariffs, or taxes. The European Union has signed many free trade agreements with several countries around the world. In this article, we will explore the countries that have free trade agreements with the EU.

1. Switzerland

Switzerland is a European country that is not a member of the EU. However, it has a free trade agreement with the EU that has been in place since 1972. This agreement allows Switzerland to trade goods and services with the EU member states without any restrictions or tariffs.

2. Norway

Norway is also a European country that is not a member of the EU. However, it is a member of the European Economic Area (EEA) and the European Free Trade Association (EFTA). This allows Norway to have a free trade agreement with the EU that ensures the free movement of goods, services, and people between Norway and the EU member states.

3. Iceland

Iceland is also a member of the EEA and EFTA, allowing it to have a free trade agreement with the EU. The agreement ensures that there are no tariffs or restrictions on the trade of goods and services between Iceland and the EU member states.

4. Liechtenstein

Liechtenstein is a small European country that is part of the EEA and EFTA. This allows it to have a free trade agreement with the EU that ensures the free movement of goods, services, and people between Liechtenstein and the EU member states.

5. Turkey

Turkey is not an EU member state but has a customs union agreement with the EU. This agreement ensures that there are no tariffs on industrial goods traded between Turkey and the EU member states. However, there are restrictions on other types of goods, such as agricultural products.

6. Canada

Canada has a comprehensive economic and trade agreement (CETA) with the EU that allows for tariff-free trade on most goods and services. This agreement also allows for increased investment between Canada and the EU member states.

7. Japan

Japan has a free trade agreement with the EU that took effect in 2019. This agreement eliminates tariffs on almost all goods traded between Japan and the EU member states, such as cars, electronics, and agricultural products.

8. South Korea

South Korea also has a free trade agreement with the EU that took effect in 2011. This agreement eliminates tariffs on almost all goods traded between South Korea and the EU member states, such as cars, electronics, and textiles.

In conclusion, many countries around the world have free trade agreements with the European Union. These agreements ensure tariff-free trade and the free movement of goods, services, and people between the countries. As the world economy becomes more interconnected, free trade agreements will become increasingly important in promoting global economic growth and development.