The European Commission is actively supporting the implementation of the trade agreement to enable economic actors on both sides to fully seize their opportunities. In addition, the report discusses in more detail the first year of implementation of the EU-Japan Economic Partnership Agreement and shows that the agreement covers one third of the bloc`s external trade with third countries and that it amounted to EUR 1.345 billion in 2019, according to the report. The agreements contributed to the EU`s total trade surplus of EUR 197 billion of EUR 113 billion and proved particularly important for European SMEs trading outside the EU – the number of which increased by an average of 6% between 2014 and 2017. On 14 October 2019, the European Commission published its third annual report on the implementation of eu`s free trade agreements. Despite the difficult global economic climate, European companies have… More representatives of the European Parliament and Member States, as well as other EU institutions and stakeholders, will now review the report with the Commission. Trade with the 65 preferential partners covered in the report increased by 3.4% in 2019, while total EU foreign trade increased by 2.5%. EU trade agreements with Canada and Japan have boosted trade by almost 25% and 6% respectively since they came into force. The report also shows that in 2019, in its second year of entry into force, the EU-Canada Agreement (CETA) “is increasingly providing stability and guarantors of growth in times of great economic uncertainty. However, we do not use them well enough and the economic potential remains untapped. What we need today is a European team for implementation, which brings the benefits of our SMEs closer together. We should increase accountability and coherence through specific trade implementation action plans that accompany our free trade agreements,” said Christoph Leitl, President of EUROCHAMBRES. EUROCHAMBRES very much welcomes the publication of the European Commission`s annual report on the implementation of trade in 2020.
These reports are an essential tool to monitor the performance of our trade agreements and, in particular, to highlight their use by European SMEs. This must become a top priority for the EU and the Member States. Currently, the EU has the largest trading network in the world, with 45 trade agreements in place for 77 partner countries. The fourth annual report, which covers the period from 1 January to 31 December 2019, includes 36 major EU preferential trade agreements which were concluded in 2019 for a substantial period with 65 different partners. The report shows continued growth in trade under our trade agreements and also points out that the EU agri-food sector has also been an important beneficiary of EU trade agreements, a fact often overlooked in public debate, including the future of the EU-Mercosur agreement. The 4th Annual Report on the Implementation of EU Trade Agreements in 2019, released today, shows the benefits of our expanding global trading network. Despite global trade tensions, the report shows that EU trade agreements continue to facilitate fair and sustainable trade and strengthen the framework of international rules. Finally, the report analyses progress in implementing the Trade and Sustainable Development (SSD) chapters, which are part of all modern EU trade agreements. By applying these chapters, the EU intends to maximise the impact of enhanced trade and investment measures in order to make progress on key issues such as promoting decent work and protecting the environment or combating climate change.