EU trade agreements are key for jobs and economic recovery
36 million jobs based on exports - companies must make better use of free trade
Ahead of the European Commission publishing its report on the implementation of the EU free-trade deals, BusinessEurope today published its analysis and positions on the EU’s implementation of free-trade agreements (FTAs) with concrete recommendations on how to maximise the benefits of these agreements. On 14 October, the Commission will also present an FTA access to market portal, helping especially smaller companies to increase their global trade with partners outside the EU.
The EU has the largest network of trade agreements in the world covering over 70 countries and regions. More than 36 million EU jobs depend on exports outside the EU, an increase of 66% since 2000. But as the number of trade agreements keeps growing, it is important they deliver new market opportunities and companies of all sizes can use them more and better.
Our paper includes positions on simplifying administrative procedures; making companies, especially SMEs, more aware of the new market opportunities at an early stage; improving coordination and outreach activities with relevant stakeholders; and making sure the trade agreements are fully respected and implemented.
BusinessEurope Director General Markus J. Beyrer said: "Europe’s rules-based preferential trade with over 70 countries and regions around the globe is the largest free trade network in the world. It is essential for the economic recovery of the EU and its trading partners. Today, more than 36 million EU jobs depend on our exports outside the EU and European businesses have created more than 14 million additional jobs based on exports since 2000.
The European Union has further important deals currently under negotiation or in ratification process. But while the number of our trade agreements keeps growing, we also need to make sure they are implemented properly. And we want companies of all sizes to seize the opportunities these trade agreements create.
The Covid-19 pandemic has only increased the importance of these efforts because FTAs give companies an essential supporting framework to diversify their supply chains. And FTAs increase companies’ resilience and allow them to look for trade and investment opportunities in fast growing regions around the world, like Asia-Pacific or Latin America.”
Read our paper here.