The European Union (EU) is a political and economic union of 27 member states, primarily located in Europe. The EU`s main purpose is to foster economic cooperation and, subsequently, to promote peace and stability among its member states. One of the ways it does this is by negotiating and signing international agreements with countries outside the EU. In this article, we will take a closer look at some of the international agreements of the EU.
EU-Mercosur Trade Agreement
The EU-Mercosur Trade Agreement between the EU and the Mercado Común del Sur (Mercosur) countries, namely Argentina, Brazil, Paraguay, and Uruguay, is one of the most extensive trade agreements signed by the EU. The agreement aims to promote trade and investment between the two regions by removing tariffs and other trade barriers. The deal has been met with controversy, with some arguing that it could lead to environmental destruction and human rights abuses in the Mercosur countries.
EU-Canada Comprehensive Economic and Trade Agreement (CETA)
The EU-Canada Comprehensive Economic and Trade Agreement, commonly known as CETA, is a comprehensive free trade agreement between the EU and Canada. The agreement aims to increase trade and investment between the two regions by reducing tariffs and other trade barriers. CETA has been provisionally applied since September 2017, and it has been described as the most ambitious and complex trade agreement ever negotiated by the EU.
EU-Korea Free Trade Agreement (FTA)
The EU-Korea Free Trade Agreement was signed in 2010, and it is one of the EU`s most important trade agreements. The agreement aims to eliminate tariffs and other trade barriers between the EU and Korea, promoting trade and investment in both regions. Since the agreement came into force in 2011, trade between the EU and Korea has increased significantly.
EU-Japan Economic Partnership Agreement
The EU-Japan Economic Partnership Agreement, signed in 2018, is one of the largest trade deals ever negotiated by the EU. The agreement aims to eliminate tariffs and other trade barriers between the EU and Japan, promoting trade and investment in both regions. The deal has been described as a mutually beneficial agreement, with both the EU and Japan benefiting from increased trade and investment.
The EU`s international agreements are an important tool for promoting economic cooperation and fostering peace and stability among its member states. The agreements discussed in this article are just a few examples of the EU`s extensive network of international partnerships. While these agreements have their critics, they have also been instrumental in promoting economic growth and improving the lives of people across Europe and beyond.